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.
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