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FINWIRES

Sector Update: Energy

-- Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.2%.

The United States Oil Fund (USO) was down 0.6% and the United States Natural Gas Fund (UNG) was 1.1% higher.

Front-month US West Texas Intermediate crude oil was 1.5% higher at $91.03 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.5% to $99.96 per barrel, and natural gas futures were up 1.5% at $2.74 per 1 million British Thermal Units.

Exxon Mobil (XOM) is considering a sale of its Esso-branded gas station network in Hong Kong, with the assets valued at about $500 million to $600 million, Bloomberg reported, citing people familiar with the matter. Shares of Exxon Mobil were 0.1% higher pre-bell.

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Kindle Energy Breaks Ground on West Virginia Power Plant, Says Blackstone

Kindle Energy officially broke ground on Wolf Summit Energy, a 600-megawatt greenfield combined-cycle gas turbine facility located in Harrison County, West Virginia, Blackstone (BX) said on Wednesday.Backed by funds from Blackstone Energy Transition Partners, the project brings the first-ever combined-cycle natural gas power plant to the state, it said.The facility aims to provide efficient and reliable power to meet the expanding energy demands of the Old Dominion Electric Cooperative.By integrating this 600-megawatt capacity into the grid, Kindle Energy and Blackstone intend to support long-term energy security and economic growth across West Virginia.Price: $125.40, Change: $-4.36, Percent Change: -3.36%

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Australia

TowneBank Declares One-Time Special Dividend After Closing Sale of Resort Property Management Business

TowneBank (TOWN) has declared a one-time special dividend of $0.70 per common share, payable May 20 to shareholders of record on May 4, the company said Thursday.The special dividend was declared after TowneBank's $250 million sale of its Resort Property Management business closed on April 3, according to a statement.The total dividend payout of roughly $65 million is about 32% of the estimated $203 million gain from the sale, before taxes and deal costs, the company said.Price: $34.55, Change: $-0.90, Percent Change: -2.54%

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UBS Adjusts Price Target on Amazon.com to $304 From $301, Maintains Buy Rating

Amazon.com (AMZN) has an average rating of buy and mean price target of $282.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $255.53, Change: $+0.16, Percent Change: +0.06%

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