Energy Sector Update for 01/20/2023: PBA,PPL.TO,SLB,GPOR,SWN
Energy stocks were moderately higher Friday afternoon, with the NYSE Energy Sector Index rising 0.4% while the Energy Select Sector SPDR Fund (XLE) was up 1%. The Philadelphia Oil Service Sector index was posting a 1% advance although the Dow Jones US Utilities Index was slipping nearly 1%.
West Texas Intermediate crude oil was rising 1.2% to $81.31 per barrel while North Sea Brent crude also was advancing 1.7% to $87.58 per barrel. Henry Hub natural gas futures were 1.2% lower at $3.24 per 1 million BTU.
In company news, Pembina Pipeline (PBA, PPL.TO) still was 0.4% higher in recent trading following a rupture of its natural gas liquids pipeline in northwestern Alberta earlier this week. The company has isolated the leak that began Wednesday night on its Northern line about 30 kilometers (18.6 miles) from Valleyview, Alberta, and was working closely with local authorities to resolve the situation "as quickly as possible," according to a statement provided to the Municipal District of Greenview website.
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