Energy Sector Update for 01/25/2023: HESM, RUN, CRGY, NFE
Energy stocks were ending moderately lower Wednesday afternoon, with the NYSE Energy Sector Index falling 0.4% and the Energy Select Sector SPDR Fund (XLE) down 0.3%. The Philadelphia Oil Service Sector index, however, was posting a 2.1% advance but the Dow Jones US Utilities Index was slipping 1.2%.
West Texas Intermediate crude oil settled 0.5% higher at $80.55 per barrel after the Energy Information Administration said US commercial inventories grew by 500,000 barrels during the seven days ended Jan. 20, down compared with the 8.4-million-barrel increase the prior week and market expectations for a 1.5-million-barrel rise last week.
Continue read on nasdaq.com