Energy Sector Update for 11/20/2019: CRC, STNG, ECA, XOM, CVX, COP, SLB, OXY

Top Energy Stocks:

XOM: -0.21%

CVX: +0.15%

COP: Flat

SLB: +0.58%

OXY: +0.42%

Top energy stocks were mixed in Wednesday's pre-bell trading. West Texas Intermediate crude oil for December delivery was up $0.45 at $55.66 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude January contract gained $0.55 to $61.46 per barrel and December natural gas futures were 3 cents higher at $2.54 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was up 0.82% while the United States Natural Gas fund was 0.86% higher.

Stocks moving on news include:

(+) California Resources (CRC), which was advancing by more than 13% after saying it does not expect the California Department of Conservation's proposal to halt approvals of new oil extraction wells that use high-pressure steam to have a significant effect on its production, plans or reserves.

(+) Scorpio Tankers (STNG) was 2% higher after saying its president, Robert Bugbee, purchased call options on 200,000 common shares for $450,000.

(+) Encana (ECA) was climbing by more than 1% after defending the decision to move its corporate domicile to the US after shareholder and asset manager Letko, Brosseau & Associates expressed in a letter its opposition to the Canadian natural gas company's decision.

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

In This Story


Latest Markets Videos