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Sector Update: Energy

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Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.6%.

The Philadelphia Oil Service Sector Index was easing 0.1%, and the Dow Jones US Utilities Index fell 1.3%.

Front-month West Texas Intermediate crude oil rose 3% to $95.81 a barrel, and the global benchmark Brent crude contract gained 2.8% to $100.66 a barrel. Henry Hub natural gas futures fell 2.7% to $2.84 per 1 million BTU.

In corporate news, Baker Hughes (BKR) said it now expects full-year revenue of $28.50 billion to $30.30 billion, compared with prior outlook of $26.65 billion to $28.05 billion. Analysts surveyed by FactSet expect $28.03 billion. Shares added 0.5%.

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