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Sector Update: Energy Stocks Edge Higher Pre-Bell Friday

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Energy stocks were edging higher pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.3%.

The United States Oil Fund (USO) was down 0.2% and the United States Natural Gas Fund (UNG) was 0.8% higher.

Front-month US West Texas Intermediate crude oil was 0.1% higher at $81.31 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell marginally to $87.05 per barrel, and natural gas futures were up 0.9% at $2.75 per 1 million British Thermal Units.

Diversified Energy (DEC) is in preliminary talks to acquire Birch Resources, which operates in the Permian Basin, Reuters reported, citing a Diversified Energy statement. Shares of Diversified Energy were up more than 2% premarket.

BP (BP) received an exploration and production license for phase 2 of the Loran offshore gas field in Venezuela's Plataforma Deltana area with an estimated 4 trillion cubic feet of recoverable gas resources, the company said. Shares of BP were 0.3% higher pre-bell.

Eni (E) and its partners have submitted an application for an Argentinian liquefied natural gas project to join the so-called Large Investment Incentive Regime, which is designed to promote investments in the South American nation's strategic sectors, Eni said. Eni shares were up 0.1% premarket.

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Sector Update: Energy Stocks Edge Lower Late Afternoon

Energy stocks were slightly lower late Thursday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.1%.The Philadelphia Oil Service Sector Index was shedding 0.3%, and the Dow Jones US Utilities Index rose 0.3%.Front-month West Texas Intermediate crude oil fell 2.6% to $81.08 a barrel, and the global benchmark Brent crude contract shed 2.4% to $86.89 a barrel. Henry Hub natural gas futures declined 2.8% to $2.73 per 1 million BTU.In geopolitical news, the Strait of Hormuz is "under Iran's control and management," the recently appointed head of Iran's Basij paramilitary unit said Thursday, a day after President Donald Trump said the US had "total control" of the waterway, Reuters reported.US natural gas stocks rose by 36 billion cubic feet in the week ended Aug. 7, higher than the 31 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 33 billion cubic feet in the previous week.In corporate news, Exelon's (EXC) ComEd unit has restored power to more than 80% of customers affected by severe storms that swept through northern Illinois on Aug. 11 and 12, the company said Thursday. Exelon shares were up 0.7%.Delek Logistics Partners (DKL) shares fell past 11% after the company said it priced an underwritten public offering of 4 million units at $50 each for gross proceeds of $200 million.Kodiak Gas Services (KGS) has visibility into multiyear EBITDA growth amid rising demand across power and natural gas, RBC Capital Markets said in a note Wednesday. RBC kept an outperform rating on the stock and increased its price target to $88 from $84. Kodiak shares rose 1%.NextEra Energy (NEE) shares added 0.4%. The company said late Wednesday it signed an agreement with the US Department of Commerce and the Japanese government to fund the development and operation of up to 10 gigawatts of natural gas-powered generation in Texas and Pennsylvania.

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Sectors

Sector Update: Financial Stocks Rise Late Afternoon

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Sectors

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks eased late Thursday afternoon with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.3%.The iShares Biotechnology ETF (IBB) shed 0.8%.In corporate news, Abeona Therapeutics (ABEO) shares fell past 15% after its Q2 results missed analysts' expectations.Monopar Therapeutics (MNPR) shares shed 4.3% after Cantor Fitzgerald downgraded the company's stock to neutral from overweight and adjusted the price target to $119 from $109.Novartis (NVS) defeated a bid by Accord Healthcare to invalidate its Entresto patent, with a UK court ruling that the patent and a related protection certificate remain valid, Reuters reported. Novartis shares declined 0.3%.MapLight Therapeutics (MPLT) shares climbed 3.8%. The company plans to sell securities in a private-placement financing for gross proceeds of $150 million.

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