Energy Sector Update for 06/18/2019: SJT

Energy stocks were ending sharply higher this afternoon, with the NYSE Energy Sector Index climbing almost 1.6% while shares of energy companies in the S&P 500 were up about 1.6% as a group. West Texas Intermediate crude oil for July delivery settled $1.97 higher at $53.90 per barrel in New York while the global benchmark Brent crude August contract advanced $1.24 to $62.18 per barrel. July natural gas futures fell 6 cents to $2.33 per 1 million BTU. Among energy stocks moving on news, San Juan Basin Royalty Trust (SJT) dropped more than 5% on Tuesday after the oil and natural gas royalty company said it would not be paying its monthly cash distribution during June due to excess production costs in April.

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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