Energy Sector Update for 04/08/2019: SES,PBR,CPE

Top Energy Stocks

XOM +0.52%

CVX -0.01%

COP +0.51%

SLB +2.53%

OXY -0.01%

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.

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

In This Story


Latest Markets Videos