Top Energy Stocks
Energy stocks were mostly higher, with the NYSE Energy Sector Index advancing nearly 0.6% while shares of energy companies in the S&P 500 were up about 0.4% as a group. West Texas Intermediate crude oil for May delivery was rising $1.03 to $64.11 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude June contract was advancing 65 cents to $70.99 per barrel. May natural gas futures were 5 cents higher at $2.71 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was adding more than 1.4% in value while the United States Natural Gas fund also was ahead nearly 1.4%. The Philadelphia Oil Service Sector index was up 0.5%.
Among energy stocks moving on news:
(+) Synthesis Energy Systems ( SES ) climbed 4% on Monday after the waste-to-fuel company announced a technology purchase option agreement to sell its 36% share of Synthesis Energy Systems Technologies to the subsidiary's majority owner, Australian Future Energy Pty Ltd for $5.8 million in cash payable in several tranches over five years.
In other sector news:
(+) Petrobras ( PBR ) was up nearly 4% after the Brazilian energy major said a consortium led by French energy utility ENGIE made the winning bid for a 90% share of its Transportadora Associada de Gas subsidiary, offering $8.6 billion for the natural gas pipeline company.
(+) Callon Petroleum ( CPE ) rose about 1% after the oil and natural gas company early Monday filed a registration statement for a mixed securities offering of common and preferred stock, depositary shares, debt securities and warrants to buy additional shares.
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