Energy Sector Update for 09/18/2023: CVX, BRY, XOM, BP, SHEL, COP
Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index adding 0.3% and the Energy Select Sector SPDR Fund (XLE) up 0.4%.
The Philadelphia Oil Service Sector index was posting a 0.2% increase, and the Dow Jones US Utilities index was rising 0.2%.
Front-month West Texas Intermediate crude was rising 0.3% to $91.04 a barrel, while global benchmark Brent was advancing 0.1% to $93.98 a barrel. Henry Hub natural-gas futures were 2.7% higher at $2.71 per 1 million BTU.
In company news, Chevron (CVX) has resumed full production at its Wheatstone liquefied natural gas facility in Western Australia after a fault disrupted operations, Reuters reported, citing an emailed statement from the company. Chevron shares rose 0.4%.