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Sector Update: Energy Stocks Fall Late Afternoon

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Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each shedding 1.8%.

The Philadelphia Oil Service Sector Index slumped 5%, and the Dow Jones US Utilities Index advanced 0.6%.

In sector news, skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported.

US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war.

West Texas Intermediate crude oil fell 3% to $90.28 a barrel, and global benchmark Brent declined 2.2% to $92.90 a barrel. Henry Hub natural gas futures dropped 3.6% to $3.22 per 1 million BTU.

In corporate news, Suncor Energy (SU) shares were down 4.8% in Friday afternoon trading after Goldman Sachs downgraded the company to neutral from buy and raised its price target to CA$100 ($71.70) from CA$98.56.

Duke Energy (DUK) said Friday it secured up to a $61.8 million grant from the US Department of Energy to support critical upgrades for its coal-fired power plants in Kentucky and North Carolina. Duke Energy shares rose 2.1%.

StealthGas (GASS) shares rose 4.3% in Friday trading after the company's Q1 revenue beat Street consensus.

NextNRG (NXXT) on Friday reported preliminary revenue of $9.3 million in May, up from $6.6 million a year earlier. NextNRG shares fell 15%.

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Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) 0.1% lower.The Philadelphia Oil Service Sector Index climbed up 1.7%, and the Dow Jones US Utilities Index rose 0.5%.Front-month West Texas Intermediate crude oil fell 3% to $93.11 a barrel, and the global benchmark Brent crude contract dropped 2.7% to $95.18 a barrel. Henry Hub natural gas futures rose 4.7% to $3.37 per 1 million BTU.In sector news, US Treasury Secretary Scott Bessent said waivers allowing countries to buy Russian oil could be granted on a country-by-country basis rather than across the board, Bloomberg reported, citing the official's testimony before the House Ways and Means Committee.In corporate news, Venture Global (VG) shares jumped 5.8% after JPMorgan upgraded the stock to overweight from neutral and increased its price target to $17 from $16.Expro (XPRO) shares surged past 8% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.Solaris Energy Infrastructure (SEI) is expected to continue to expand capacity despite facing a tight supply chain in the near term, Morgan Stanley said in a note. Morgan Stanley kept its overweight rating and increased its price target to $90 from $81. Solaris shares rose 3%.Murphy Oil (MUR) shares rose 2.3% after KeyBanc upgraded the stock to overweight from sector weight.

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Sector Update: Financial Stocks Gain Late Afternoon

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Sector Update: Tech Stocks Fall Late Afternoon

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