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282 stories mentioning BPUpdated 1d ago

Featured in energy-sector and European ADR roundups as oil prices swung around the US-Iran truce reopening the Strait of Hormuz.

Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.The Philadelphia Oil Service Sector Index was climbing 2.3%, and the Dow Jones US Utilities Index decreased 0.4%.In geopolitical news, Iran said Friday that it had targeted US military assets at Kuwait's Ahmad Al-Jaber airbase, describing the attack as retaliation for US strikes a day earlier, Al Jazeera reported Friday. The US has not responded to Iran's attack yet, and specific details about the damage and casualties are not known, the report said.Separately, President Donald Trump said the US has an "understanding" with Israel to start implementing an agreement in Gaza that would require Israeli forces to withdraw and Hamas to give up its weapons, a critical step in implementing a multi-phase peace plan to end the war, according to CNN. A senior Hamas official told CNN that the militant group had agreed to the deal with the US-backed Board of Peace, contingent on Israel upholding its obligations. Hamas has never before agreed to a specific plan to hand over its weapons, according to CNN.Front-month West Texas Intermediate crude oil rose 1.3% to $84.64 a barrel, and the global benchmark Brent crude contract added 1.2% to $90.12 a barrel. Henry Hub natural gas futures shed 0.4% to $2.75 per 1 million BTU.In corporate news, Exxon Mobil (XOM) and Chevron (CVX) on Friday reported year-over-year gains in their Q2 results as the supply disruptions in the Middle East boosted oil prices. Exxon shares were down 0.8%, and Chevron rose 2.5%.Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion. Phillips 66 shares were up 0.4%.Shell (SHEL) has agreed to sell its BG Cyprus subsidiary to MOL Group for up to $720 million, subject to customary adjustments and milestone-linked contingent payments, the company said Friday. Shell shares were up 1.4%.BP (BP) said Friday it has launched a process to market its North Sea oil and gas business for a potential sale as part of its broader portfolio review. BP shares rose 1.9%.

$BP$CVX$PSX$SHEL$XOM
Commodities

BP Launches Sale Process for UK North Sea Business Amid Portfolio Overhaul

BP (BP) said Friday that it has launched the process to market its business in the UK's North Sea for a potential sale, as part of its ongoing portfolio review and disciplined approach to capital allocation.The company's CEO, Meg O'Neill, noted that the company will remain committed to the UK, saying, "the UK has been our home for more than 100 years and will continue to play an important role in our future."She said that the North Sea remains "integral to the UK's energy system" while adding that as BP focuses capital on higher-return opportunities, the business would be "better positioned as part of another company."BP also reaffirmed its commitment to safety and reliability throughout the sales process, adding that it would continue to deliver for "customers, partners and stakeholders."The company's North Sea portfolio comprises five production hubs, two located in Central North Sea, and three to the west of Shetland. The business currently employs 1,100 people, out of nearly 14,000 employees who work for the company across the UK.

$BP
Equities

BP Launches Sale Process for North Sea Business as Portfolio Overhaul Continues

BP (BP) said Friday it has launched a process to market its North Sea oil and gas business for a potential sale as part of its broader portfolio review.Chief Executive Meg O'Neill said the assets would be 'better positioned as part of another company'.

$BP
Sectors

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index advanced 2.5%, and the Dow Jones US Utilities Index fell 0.6%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.West Texas Intermediate crude oil shed 0.9% to $83.71 a barrel, and global benchmark Brent fell 1.8% to $89.09 a barrel. Henry Hub natural gas futures rose 0.8% to $2.75 per 1 million BTU.US natural gas stocks rose by 28 billion cubic feet in the week ended July 24, a smaller rise than the 35 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week.In corporate news, Shell (SHEL) shares gained 2.7% after the company reported Q2 results that beat consensus estimates.Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon shares were up 0.4%, and Chevron added 0.3%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 2.1%.GE Vernova (GEV) is investing $166 million to expand its operations in Western Pennsylvania, Governor Josh Shapiro and Pennsylvania Department of Community and Economic Development Secretary Rick Siger said Thursday. GE Vernova shares rose past 8%.Emera (EMA) received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas to Bernhard Capital Partners in a $1.25 billion deal. Emera shares were up 0.2%.

$BP$CVX$EMA$GEV$SHEL$XOM
Sectors

Sector Update: Energy Stocks Mixed Thursday Afternoon

Energy stocks were mixed Thursday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.2%.The Philadelphia Oil Service Sector Index was climbing up 2.1%, and the Dow Jones US Utilities Index decreased 0.5%.Late Wednesday, US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to a CENTCOM statement. "The strikes aimed to further diminish threats posed by Iran and its proxies to American forces, commercial shipping, and neighboring Gulf countries." Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.Front-month West Texas Intermediate crude oil shed 0.4% to $84.09 a barrel, and the global benchmark Brent crude contract fell 1.3% to $89.58 a barrel. Henry Hub natural gas futures rose 1.5% to $2.76 per 1 million BTU.In corporate news, Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon and Chevron shares were each shedding about 0.4%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 1.2%.Celanese (CE) said Thursday that the Amsterdam District Court dismissed the damages claim brought by Shell's (SHEL) Shell Chemicals Europe unit. The court also dismissed a claim from Repsol-related entities seeking declaratory judgement of liability of Celanese and its co-defendants, it said. The claims stemmed from a 2020 settlement with the European Commission regarding past ethylene purchases in North-Western Europe, according to the company. Celanese shares were up 1.3%, and Shell was adding 1.6%.

$BP$CE$CVX$SHEL$XOM
Commodities

BP to Slash 700 Jobs to Streamline Operations

BP (BP) plans to eliminate about 700 non-frontline jobs globally as the energy major moves to streamline operations and improve profitability.The job cuts will affect about 8% of the 8,500 non-frontline positions historically tied to the company's production and operations division."We recognize the impact on affected employees. We will prioritize continued communication with and support for our teams," a BP spokesperson said in an emailed statement to.The energy major employed 93,700 people across 61 countries in 2025, according to its annual report.The streamlining is part of BP's broader push to lower costs, reduce debt and strengthen returns by refocusing on its core oil and gas operations after scaling back ambitions in renewable energy."We are building a simpler, stronger, more valuable BP," the company's spokesperson said, adding that the oil major is proposing changes that would result in a reduction in roles to reduce complexity, improve accountability and support long-term performance.Price: $43.81, Change: $+0.49, Percent Change: +1.13%

$BP
Equities

Update: Market Chatter: BP Plans to Cut 700 Jobs

(Updated with BP's response to a request for comment in the last paragraph.)BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed.The cuts would impact about 8% of the 8,500 non-frontline workers that were traditionally part of the company's production and operations business, the report said, citing the email.A company spokesperson toldvia email that the job cuts are part of the changes "intended to reduce complexity, improve accountability and support long-term performance in a changing market environment."(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $43.50, Change: $+0.18, Percent Change: +0.42%

$BP
Equities

Market Chatter: BP Plans to Cut 700 Jobs

BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed.The cuts would impact about 8% of the 8,500 non-frontline workers that were traditionally part of the company's production and operations business, the report said, citing the email.BP didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $43.51, Change: $+0.19, Percent Change: +0.43%

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Wire

BP Plans to Cut 700 Jobs, Reuters Reports

BP Plans to Cut 700 Jobs, Reuters Reports

$BP
Sectors

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks rose late Wednesday afternoon, with the NYSE Energy Sector Index gaining 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%.The Philadelphia Oil Service Sector Index fell 0.8%, and the Dow Jones US Utilities Index shed 1.3%.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.West Texas Intermediate crude oil jumped 6.3% to $84.28 a barrel, and global benchmark Brent surged 7.4% to $90.32 a barrel. Henry Hub natural gas futures rose 2.4% to $2.73 per 1 million BTU.In corporate news, Shell (SHEL) and Phillips 66 (PSX) are exploring a sale of their combined stakes in the Explorer refined products pipeline in a deal that may value the asset at $3.5 billion, Reuters reported. Shell shares rose 2.5%, and Phillips 66 added 0.2%.Baker Hughes (BKR) shares were up 1.6% after the company said it secured a major order for 76 NovaLT 16 gas turbines from Dynamis Power Solutions.Woodside Energy (WDS) shares rose 4.9% after it reported higher Q2 operating revenue.Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. BP shares were up 4.2%.

$BKR$BP$PSX$SHEL$WDS
Sectors

Sector Update: Energy Stocks Gain Wednesday Afternoon

Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 2.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.9%.The Philadelphia Oil Service Sector Index was decreasing 1.1%, and the Dow Jones US Utilities Index shed 0.8%.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.Front-month West Texas Intermediate crude oil jumped 6.6% to $84.46 a barrel, and the global benchmark Brent crude contract surged 7.4% to $90.33 a barrel. Henry Hub natural gas futures rose 1.1% to $2.69 per 1 million BTU.In corporate news, Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. BP shares were up 4%.Eni (E) shares gained 7.2% after it reported higher Q2 net profit and sales.Woodside Energy (WDS) shares rose 4.8% after it reported higher Q2 operating revenue.NextEra Energy (NEE) and Brookfield (BN) are part of a group that will develop a data center campus at the Energy Department's Paducah Site in Kentucky for $100 billion, according to a joint statement. NextEra shares were down 0.3%.

$BP$E$NEE$WDS
Sectors

Sector Update: Energy

Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 2.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 2.1%.The Philadelphia Oil Service Sector Index was decreasing 0.9%, and the Dow Jones US Utilities Index fell 1%.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News. The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.Front-month West Texas Intermediate crude oil jumped 6.7% to $84.54 a barrel, and the global benchmark Brent crude contract surged 7.6% to $90.45 a barrel. Henry Hub natural gas futures rose 1.1% to $2.69 per 1 million BTU.In corporate news, Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported. BP shares were up 4.2%.

$BP
Asia Markets

European Equities Traded in US as ADRs Ease in Wednesday Trading

European equities traded in the US as American depositary receipts eased late Wednesday morning with the S&P Europe Select ADR Index down 0.1% to 1,906.06.From continental Europe, the gainers were led by oil and gas company Eni (E) and energy company Equinor (EQNR), which climbed 6.9% and 6.2%, respectively. They were followed by software firm SAP (SAP) and travel-booking company trivago (TRVG), which increased 3% and 2.6%, respectively.The decliners from continental Europe were led by semiconductor company Sequans Communications (SQNS) and telecommunications company Nokia (NOK), which fell 4.8% and 3.6%, respectively. They were followed by lenders Banco Santander (SAN) and Banco Bilbao Vizcaya Argentaria (BBVA), which dropped 2.5% and 2.3%, respectively.The gainers from the UK were led by software firm Endava (DAVA) and oil and gas company BP (BP), which rose 4.2% and 3.7%, respectively. They were followed by oil and gas company Shell (SHEL) and biopharmaceutical company Amarin (AMRN), which climbed 2.5% and 2.4%, respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and pharmaceutical company Silence Therapeutics (SLN), which shed 25% and 4.6%, respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and lender Barclays (BCS), which lost 3.3% and 2.8%, respectively.

$AKTX$AMRN$BBVA$BCS$BDRX$BP$DAVA$E$EQNR$NOK$SAN$SAP$SHEL$SLN$SQNS$TRVG
Wire

Market Chatter: Carlyle, Energean Among Bidders for BP Assets Off Egypt

Carlyle (CG), Energean, Dragon Oil, and Artemis Energy are among the companies that are anticipated to bid for BP's (BP) West Nile Delta natural gas development off Egypt this week, Reuters reported Wednesday, citing three sources familiar with the sale process.Details related to the potential bids were not immediately available, according to the Reuters report.Carlyle, BP, Energean, Dragon Oil, and Artemis Energy did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $45.03, Change: $-1.44, Percent Change: -3.10%

$BP$CG
Oil & Energy

Turkey, Iraq Reportedly Seek Broad Energy Pact After Pipeline Deal Expires

Turkey aims to sign an energy cooperation agreement with Iraq soon after talks with Iraqi Prime Minister Ali al-Zaidi in Ankara, multiple news outlets reported, citing Turkish President Tayyip Erdogan's comments on Tuesday.The development comes even as the two countries did not extend a key pipeline accord that expired this week.Erdogan, speaking at a joint news conference following a signing ceremony, reportedly said Turkey's state-owned oil and gas company TPAO would operate in Iraq's Kirkuk oilfield alongside BP (BP), marking a new phase in bilateral energy ties.The ceremony had reportedly been expected to include an agreement extending the decades-old Kirkuk-Ceyhan crude oil pipeline accord for another year. The agreement, which governs exports through the pipeline, officially expired on Monday without renewal.After the two sides signed three cooperation agreements in other areas, Erdogan said additional accords were expected. However, ministers briefly conferred with him on stage before he and al-Zaidi proceeded directly to their remarks without signing further documents, Reuters reported.Turkish Energy Minister Alparslan Bayraktar later said in a post on X that TPAO had acquired a 15% stake in BP Energy Company of Kirkuk, enabling the Turkish company to operate in the Kirkuk oilfield.Bayraktar said TPAO would work with BPECKL's partners to develop an estimated 3 billion barrels of reserves at the field.BP and the Iraqi and Turkish Ministries of Foreign Affairs did not immediately respond to a request for comment from.

$BP
Commodities

Noble Sees Contract Resequencing Shift Rig Activity as Dayrates Remain Firm, TPH Says

Noble (NE) lowered its fiscal 2026 adjusted EBITDA outlook after contract resequencing offset otherwise resilient offshore drilling activity, TPH Energy Research said in a Tuesday note.Two Petrobras (PBR) floaters reduced Q2 revenue by about $43 million, although adjusted EBITDA still broadly matched TPH's expectations despite the lost contract revenue.Management attributed the weaker outlook to revised schedules for the Noble Viking, Noble Intrepid and Noble Innovator, rather than non-productive time, according to TPH Energy Research in a Tuesday note.The Noble Viking will complete its firm contract in October 2026 in Southeast Asia and could remain idle before customers exercise its remaining two contract options, according to the research firm.BP (BP) transferred the remaining backlog from the Noble Innovator to the Noble Intrepid, freeing the Innovator in September 2026 while extending the Intrepid's contract through September 2027.Four optional wells for the Northern Endurance Partnership could keep the jackup active through most of 2028, TPH said.Noble also moved the Noble Developer's expected contract completion to January 2027 from the prior August 2027 schedule, which had included a five-well option. TPH said the revised timeline likely reflects the customer's plan to retender future Gulf of America drilling work.Floater operating days came in about 2% below TPH's expectations, while average floater dayrates met estimates at about $413,000.Jackup dayrates reached $197,000, above TPH's $179,000 estimate, while reimbursable revenue totaled about $40 million versus TPH's $35 million forecast.Noble also retired the Ocean Apex ahead of TPH's expected 2027 timeline. Management added that tightening market conditions have pushed leading-edge rates for Tier I ultra-deepwater drillships into the mid-$400,000s, TPH said.Adjusted EBITDA totaled $212 million, compared with TPH's $210 million estimate and the Street's $219 million forecast.The company lowered its fiscal 2026 adjusted EBITDA guidance to $850 million to $925 million from $940 million to $1.02 billion, reducing the midpoint by about $93 million, TPH said.Noble maintained its fiscal 2026 capital expenditure guidance at $615 million to $665 million, in line with TPH's $639 million estimate.Second-quarter capital expenditures reached about $205 million, above the Street's $159 million forecast and TPH's $135 million estimate, resulting in negative free cash flow of $59 million versus the Street's negative $9 million forecast and TPH's positive $53 million estimate.Price: $39.29, Change: $-3.82, Percent Change: -8.86%

$BP$NE$PBR
Commodities

Noble Q2 Floater Utilization Falls, Wins $200 Million in New Contracts

Houston-based offshore drilling contractor Noble Corp. said its fleet of 24 marketed floaters was 61% contracted in Q2 2026, down from 68% in Q1, though recent contract awards added about 16 months of new floater backlog and leading-edge dayrates for Tier-1 drillships increased to the mid-$400,000s.Utilization of Noble's five marketed ultra-harsh environment jackups rose to 80% in Q2 from 66% in the prior quarter.The company said it secured approximately $200 million in new Q2 contracts, including a six-well award for the Noble Viking in the Asia-Pacific region that is scheduled to begin in early 2028 and last about 300 days.The Noble Claus Bachmann was also awarded a three-well contract with BP (BP) in the UK North Sea that is expected to begin in March 2027 and run for 150 to 210 days at a day rate of $320,000, plus a $5 million mobilization fee.The rig's previously announced three-year campaign with Aker BP will now begin immediately after completion of the BP contract.Noble said its backlog stood at $6.8 billion as of July 27, excluding mobilization and demobilization revenue.Chief Executive Robert Eifler said that while the company faces some near-term revenue headwinds, the market outlook remains promising for 2027 and beyond in both the deepwater and harsh-environment segments, as reflected by recent contract awards at higher dayrates.

$BP$NE
Asia Markets

European Equities Traded in the US as American Depositary Receipts Start Week Marginally Higher in Monday Trading

European equities traded in the US as American depositary receipts started the week slightly higher late Monday morning, rising 0.15% to 1,910.62 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by software firm SAP (SAP) and lender Banco Santander (SAN), which rose 6% and 3.5% respectively. They were followed by biotech firm Evaxion (EVAX) and biopharmaceutical company Grifols (GRFS), which increased 3.3% and 3.2% respectively.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which fell 3% and 2.6% respectively. They were followed by brewing company Anheuser-Busch InBev (BUD) and biopharmaceutical company argenx (ARGX), which were down 1.8% and 0.7% respectively.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and telecommunications operator Vodafone Group (VOD), which climbed 9.6% and 5.4% respectively. They were followed by biotech firm Autolus Therapeutics (AUTL) and pharmaceutical company Silence Therapeutics (SLN), which advanced 5.2% and 4.4% respectively.The decliners from the UK and Ireland were led by oil and gas companies BP (BP) and Shell (SHEL), which dropped 2% and 1% respectively. They were followed by tobacco company British American Tobacco (BTI) and utilities company National Grid (NGG), which lost 0.6% and 0.1% respectively.

$AKTX$ARGX$AUTL$BP$BTI$BUD$E$EQNR$EVAX$GRFS$NGG$SAN$SAP$SHEL$SLN$VOD
Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

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%.

$AREC$BP$NEE$SLB
Sectors

Sector Update: Energy Stocks Mixed Friday Afternoon

Energy stocks were mixed Friday afternoon with the NYSE Energy Sector Index little changed and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index climbed 2.9%, and the Dow Jones US Utilities Index eased 0.1%.West Texas Intermediate crude oil fell 3.6% to $88.80 a barrel, and global benchmark Brent dropped 4.4% to $96.30 a barrel. Henry Hub natural gas futures fell 1% at $2.89 per 1 million BTU.In corporate news, SLB (SLB) shares jumped 10% after Q2 adjusted earnings and revenue topped market estimates.NextEra Energy reported mixed Q2 results with adjusted earnings topping estimates and operating revenue trailing Wall Street forecasts. The shares fell 0.5%.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 fell 0.3%.

$BP$NEE$SLB

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