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Sector Update: Energy Stocks Mixed Late Afternoon

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Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index 0.1% lower and the State Street Energy Select Sector SPDR ETF (XLE) up 0.3%.

The Philadelphia Oil Service Sector Index climbed up 2.9%, and the Dow Jones US Utilities Index was up 0.1%.

West Texas Intermediate crude oil fell 3% to $89.45 a barrel, and global benchmark Brent dropped 3.9% to $96.80 a barrel. Henry Hub natural gas futures shed 1.3% to $2.88 per 1 million BTU.

In corporate news, SLB (SLB) shares jumped past 10% after its Q2 adjusted earnings and revenue topped market estimates.

NextEra Energy (NEE) reported mixed Q2 results with adjusted earnings topping estimates and operating revenue trailing Wall Street forecasts. Shares were 0.2% lower.

BP (BP) is in advanced talks to sell its solar power arm Lightsource to a consortium comprising Qualitas Energy, a private equity firm focused on green energy, and Wren House, the infrastructure arm of the Kuwait Investment Authority, Reuters reported. BP shares were down 0.4%.

American Resources (AREC) said Friday it will pay a special dividend of 4.31 cents per share, payable on Aug. 25 to shareholders of record Aug. 15. Shares were down 2%.

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