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Sector Update: Energy

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Energy stocks were edging up late Thursday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) both fractionally higher.

The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index shed 1%.

Front-month West Texas Intermediate crude oil rose 0.5% to $89.14 a barrel, and the global benchmark Brent crude contract shed 0.4% to $93.93 a barrel. Henry Hub natural gas futures climbed 5% to $3.04 per 1 million BTU.

In corporate news, BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported. BP shares were down 0.4%.

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