Top Energy Stocks
Energy stocks were higher, with the NYSE Energy Sector Index climbing 0.6% while shares of energy companies in the S&P 500 were ahead more than 1.2% as a group. West Texas Intermediate crude oil for April delivery was slipping $1.53 $55.69 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude May contract was declining $1.70 to $64.61 per barrel. April natural gas futures were 3 cents higher at $2.84 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling 2.4% while the United States Natural Gas fund was gaining 1.5%. The Philadelphia Oil Service Sector index was up nearly 1.6%.
Among energy stocks moving on news:
(+) TransCanada Corp ( TRP ) was posting a small gain on Friday after the Federal Energy Regulatory Commission approved the company's plans to fully open the Mountaineer XPress pipeline, allowing the company to increase the flow of gas on that pipeline and begin operating its GulfXPress project.
In other sector news:
(+) Emerson ( EMR ) was fractionally higher Friday after saying it has opened a new $4 million service center bringing enhanced oil and natural gas technologies to the Permian Basin in Texas and New Mexico. The 16,000-square-foot facility also provides local access to the company's portfolio of "smart" field devices and instrumentation as well as other control systems and enterprise management software.
(-) Basic Energy Services ( BAS ) dropped 7% after recording a Q4 net loss of $1.76 per share, expanding on a $0.78 per share loss during the year-ago period and also missing the Capital IQ consensus expecting a net loss of $1.67 per share.
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