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Sector Update: Energy Stocks Mixed Friday Afternoon

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Energy stocks were mixed Friday afternoon, with the NYSE Energy Sector Index rising 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.

The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index declined 1.7%.

Front-month West Texas Intermediate crude oil rose 0.1% to $86.90 a barrel, and the global benchmark Brent crude contract increased 0.5% to $94.25 a barrel. Henry Hub natural gas futures added 1.1% to $2.76 per 1 million BTU.

In corporate news, a German regulator found a carbon credits project funded by an Exxon Mobil (XOM) unit to be suspicious, possibly faking or overstating its environmental impact, Bloomberg reported, citing a report from the German Environment Agency. Exxon shares were down 0.5%.

Petrobras (PBR) shares added 0.2% after it said Friday that it has entered direct negotiations for exploration contracts covering four offshore blocks in Ghana's Keta Basin after the country's Ministry of Energy and Green Transition approved its application.

TotalEnergies (TTE) and CMA CGM received European Commission approval to create a joint venture focused on liquefied natural gas bunkering logistics services, the Commission said Friday. TotalEnergies shares were down 0.5%.

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