NEXT

Energy Sector Update for 07/15/2020: NEXT, STNG, VNOM, XLE, USO, UNG

Most energy stocks were trading higher pre-bell Wednesday as the Energy Select Sector SPDR (XLE) was recently gaining more than 2% in value. The United States Oil Fund (USO) was marginally lower and the United States Natural Gas Fund (UNG) was up 0.88%. West Texas Intermediate crude oil was up $0.06 at $40.35 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude gained $0.06 to $42.96 per barrel and natural gas futures were 2 cents higher at $1.77 per 1 million BTU.

NextDecade (NEXT) was surging past 36% after saying it has amended the design of its Rio Grande LNG project to cut total carbon dioxide equivalent emissions by 21%.

Scorpio Tankers (STNG) was more than 4% higher after saying Scorpio Services Holdings, a related party, has acquired 100,000 of its shares in the open market at an average price of $12.83 per share.

Viper Energy Partners (VNOM) was gaining more than 2%. The company Wednesday reported Q2 average production of 24,508 barrels of oil equivalent per day, lower than the Q1 average production of 27,575 boe/d.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.