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Sector Update: Energy

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Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.

The Philadelphia Oil Service Sector Index was climbing 1%, and the Dow Jones US Utilities Index was fractionally higher.

Front-month West Texas Intermediate crude oil was rising 0.3% to $101.35 a barrel, and the global benchmark Brent crude contract was decreasing 0.2% to $105.42 a barrel. Henry Hub natural gas futures rose 1.1% to $2.90 per 1 million BTU.

In corporate news, Chevron (CVX) has agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to Eneos for $2.17 billion, Eneos said. Chevron shares were up 0.4%.

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