Energy Sector Update for 05/09/2024: STNG, HESM, CQP, XLE, USO, UNG

Energy stocks were advancing premarket Thursday as the Energy Select Sector SPDR Fund (XLE) was up 0.1% recently.

The United States Oil Fund (USO) was 0.1% lower and the United States Natural Gas Fund (UNG) was up 2.8%.

Front-month US West Texas Intermediate crude oil was up 0.1% at $79.08 per barrel at the New York Mercantile Exchange. Global benchmark North Sea crude oil gained 0.1% to $83.63 per barrel, and natural gas futures were up 2% at $2.23 per 1 million British Thermal Units.

Scorpio Tankers (STNG) shares were up 0.9% after the company reported higher Q1 adjusted net income and revenue.

Hess Midstream (HESM) subsidiary Hess Midstream Operations priced $600 million of 6.5% senior unsecured notes due 2029 at par in a private offering, upsized from $500 million. Hess Midstream shares were 0.1% higher pre-bell.

Cheniere Energy Partners (CQP) said it priced a $1.2 billion offering of 5.75% senior notes due Aug. 15, 2034. Cheniere Energy Partners shares were up 0.9% premarket.

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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