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2023-01-20 21:13:29

Energy Sector Update for 01/20/2023: WEC,PBA,PPL.TO,SLB,GPOR,SWN

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Nasdaq
By Mt Newswires

Energy stocks extended their Friday gains this afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) both climbing 0.9%. The Philadelphia Oil Service Sector Index was posting a 1.1% advance while the Dow Jones US Utilities Index was rising 0.3%, reversing a midday decline.

West Texas Intermediate crude oil settled 1.2% higher at $81.31 per barrel while North Sea Brent crude was advancing 1.8% to $87.68 per barrel. Henry Hub natural gas futures fell 5.1% to $3.11 per 1 million BTU.

In company news, WEC Energy Group (WEC) added 1.4% on Friday after the electric utility announced a 7.2% increase in its quarterly dividend to $0.78 per share.

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