Energy Sector Update for 06/13/2019: MDR, XOM, TRP, XOM, CVX, COP, SLB, OXY

Top Energy Stocks:

XOM: +0.63%

CVX: +1.08%

COP: +1.67%

SLB: +2.16%

OXY: +1.46%

Leading energy stocks were trading higher pre-bell Thursday. West Texas Intermediate crude oil for July delivery was up $1.72 at $52.86 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude August contract gained $2.14 to $62.11 per barrel and July natural gas futures were 2 cents lower at $2.37 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was up 3.48%, while the United States Natural Gas fund was 0.49% lower.

In other sector news:

(+) McDermott International (MDR) was up 3% after saying it won a "sizable" technology contract from Ningbo Union King Polyester Material Limited for the technology license, process design engineering and operator training for a paraxylene plant in Ningbo, China.

(+) Exxon Mobil (XOM) and Saudi Arabia's SABIC have reportedly secured local permits for their proposed $10 billion petrochemicals plant near Corpus Christi, TX. Exxon Mobil was recently trading higher.

(=) TC Energy (TRP) has completed the 770 kilometer, $2.5 billion Sur de Texas natural gas pipeline after several delays, Reuters reported. TC Energy was unchanged after the news.

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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