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Energy Sector Update for 12/28/2018: PBR,CVX,RSD.A,RDS.B

Top Energy Stocks

XOM -0.81%

CVX -0.30%

COP -0.64%

SLB +0.53%

OXY -0.03%

Energy stocks were mixed this afternoon, with the NYSE Energy Sector Index climbing 0.1%, while shares of energy companies in the S&P 500 were down 0.8% as a group. West Texas Intermediate crude oil for February delivery was rising 71 cents to $45.32 per barrel in New York, while the global benchmark Brent crude February contract was up 12 cents to $52.28 per barrel. February natural gas futures were 24 cents lower at $3.31 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling 0.4%, while the United States Natural Gas fund was dropping 4.7%. The Philadelphia Oil Service Sector index was up 1.1% in recent trade.

Among energy stocks moving on news:

(+) Petroleo Brasileiro ( PBR ) was 2% higher this afternoon. The Brazilian energy major, more commonly known as Petrobras, on Friday reported a 2% decline in November production compared with the prior month, falling to 2.62 million barrels of oil equivalent per day from 2.66 million barrels per day in October.

In other sector news:

(+) Transocean ( RIG ) rose 5% on Friday after saying it signed a five-year drilling contract with Chevron ( CVX ) for a drillship now under construction in Singapore. The drilling contract has an estimated backlog of $830 million and the ship is expected to begin operations in the Gulf of Mexico during the second half of 2021.

(+) Royal Dutch Shell (RDS.A,RDS.B) was fractionally higher in recent trading, retracing some of an earlier gain after the company said it will begin full-scale development of unconventional oil fields in Argentina's Vaca Muerta basin.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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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.

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