ARLP

Energy Sector Update for 01/29/2024: ARLP, BKR, PBR, XLE, USO, UNG

Energy stocks were mixed premarket Monday with the Energy Select Sector SPDR Fund (XLE) declining by 0.2% and the NYSE Energy Sector Index up 0.9%.

The United States Oil Fund (USO) was 1% lower and the United States Natural Gas Fund (UNG) was down nearly 3%.

Front-month US West Texas Intermediate crude oil was down 0.8% at $77.40 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil lost 0.8% to $82.91 per barrel, and natural gas futures were 8.9% lower at $2.47 per 1 million British Thermal Units.

Alliance Resource Partners (ARLP) was down past 2% lower after it reported Q4 earnings of $0.88 per limited partner unit, down from $1.63 a year earlier. Three analysts polled by Capital IQ expected $1.14.

Baker Hughes (BKR) unveiled a new hydrogen testing facility for its NovaLT industrial turbines in Florence, Italy. Baker Hughes was slightly declining pre-bell.

Petrobras (PBR) said it has completed drilling the Pitu Oeste exploratory well located off the coast of the state of Rio Grande do Norte in northern Brazil. Petrobras was marginally declining in recent premarket activity.

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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