Energy stocks were moderately lower Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR ETF (XLE) both down 0.3%.
Front-month West Texas Intermediate crude oil reversed an early gain, slipping $0.04 to $75.19 per barrel, while global benchmark Brent advanced $0.24 to $76.08 per barrel. Henry Hub natural gas futures were $0.03 higher at $3.69 per million BTU.
The Philadelphia Oil Service Sector index fell 0.4%, while the Dow Jones US Utilities Index inched up less than 0.1%.
In company news, Overseas Shipholding Group (OSG) climbed as much as 44%, after the oil tankers operator announced a review of its strategic alternatives and said it received an non-binding buyout offer from an unnamed suitor of $3 per share, nearly 43% above Thursday's closing price.
Sabine Royalty Trust (SBR) was 1.5% higher, overcoming early sluggishness that followed the oil and natural gas producer Friday declaring a July distribution of $0.278250 per unit, down from its June distribution of $0.293880 per unit.
Ecopetrol (EC) climbed 1.3% after the Colombian energy producer late Thursday announced formation of its Ecopetrol Singapore and Ecopetrol Trading Asia subsidiaries to market its crude oil and refined products in Asia.
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