Top Energy Stocks
XOM +0.22%
CVX -0.15%
COP -0.54%
SLB -0.76%
OXY -0.26%
Energy stocks were edging lower Wednesday, with the NYSE Energy Sector Index slipping more than 0.2% while shares of energy companies in the S&P 500 were down nearly 0.1% as a group. Crude oil for January delivery was down 48 cents at $56.65 per barrel while January natural gas futures were 4 cents higher at $2.72 per 1 million BTU. Also, the Philadelphia Oil-Service Sector Index ( OSX ) was down 1.1% this afternoon.
The US Energy Information Administration this morning said US crude oil inventories decreased by 5.6 million barrels during the seven days ended Dec. 8. Industry experts polled by Platt's had been expecting commercial crude oil supplies to fall another 1 million barrels last week compared with an average build of nearly 2.4 million barrels during the same reporting period between 2012-16. Gasoline inventories rose by 6.8 million barrels last week, following three straight weeks of diminishing supplies.
Among energy stocks moving on news Wednesday:
- Noble Midstream Partners ( NBLX ) declined as much as 7% after the owner-operator of domestic midstream oil infrastructure said it priced a $154.2 million public offering of 3.2 common equity units at $48.19 apiece.
In other news:
-U.S. Geothermal ( HTM ) said it is acquiring the remaining stake in the Raft River Energy I LLC project that it doesn't already own, paying $350,000 in cash to Goldman Sachs ( GS ).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
