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Sector Update: Energy

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Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index up 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.

The Philadelphia Oil Service Sector Index was down 0.7%, and the Dow Jones US Utilities Index advanced 0.3%.

Front-month West Texas Intermediate crude oil shed 0.5% to $81.96 a barrel, and the global benchmark Brent crude contract fell 1.3% to $87.45 a barrel. Henry Hub natural gas futures gained 3.4% to $2.86 per 1 million BTU.

In corporate news, Public Service Enterprise Group (PEG) shares added 0.9% after its PSE&G unit said Wednesday that it has launched its GridSmart Battery Program, which is intended to help offset the costs of customers installing a home battery system.

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