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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.

Asia Markets

European Equities Traded in the US as American Depositary Receipts Decline Tuesday

European equities traded in the US as American depositary receipts were lower on Tuesday morning, down 0.3% to 1,784.71 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by technology company Opera (OPRA) and telecoms, information technology, and consumer electronics corporation Nokia (NOK), which climbed 7.8% and 1.4% respectively.They were followed by pharmaceutical giant Novo Nordisk (NVO), which added 1%.The decliners from continental Europe were led by semiconductor companies Sequans Communications (SQNS) and ASML (ASML), which fell 6.2% and 4.7% respectively.They were followed by solar energy technology company Turbo Energy (TURB), which shed 3.7%.From the UK and Ireland, the gainers were led by clinical-stage biopharmaceutical company Autolus Therapeutics (AUTL), which rose 3.2%, followed by oil and gas companies Shell (SHEL) and BP (BP), which advanced 1.3% and 1.1% respectively.The decliners from the UK and Ireland were led by semiconductor company Arm (ARM) and budget airline Ryanair (RYAAY), which dropped 8.9% and 2.4% respectively.

$ARM$ASML$AUTL$BP$NOK$NVO$OPRA$RYAAY$SHEL$SQNS$TURB
Sectors

Sector Update: Energy Stocks Higher Pre-Bell Tuesday

Energy stocks were higher premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.4%.The United States Oil Fund (USO) rose 3.9%, while The United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was up 4.4% at $100.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 3.5% to $112.06 per barrel, and natural gas futures were 0.9% lower at $2.53 per 1 million British Thermal Units.BP (BP) stock was more than 2% higher before the opening bell after the company reported higher Q1 underlying replacement cost profit and sales.Shell (SHEL) shares were 2% higher in premarket activity after the company agreed to acquire Canadian energy firm ARC Resources in a transaction valued at about $16.17 billion.Petrobras (PBR) stock rose 1% before the opening bell after the company agreed to acquire 100% of a portion of the Argonauta Field in the Campos Basin, which is currently owned by Shell (SHEL), ONGC, and Brava, for 700 million Brazilian reais ($140.1 million) and $150 million in cash.

$BP$PBR$SHEL$UNG$USO$XLE
Equities

Sector Update: Energy

Energy stocks were higher premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.4%.The United States Oil Fund (USO) rose 3.3%, while the United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was up 3.5% to $99.66 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.4% to $104.20 per barrel, and natural gas futures were 0.6% lower at $2.71 per 1 million British Thermal Units.BP (BP) stock was more than 2% higher before the opening bell after the company reported higher Q1 underlying replacement cost profit and sales.

$BP$UNG$USO$XLE
Commodities

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Tuesday Amid Higher Oil Prices, Earnings Deluge

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7% and the actively traded Invesco QQQ Trust (QQQ) was 1.4% lower in Tuesday's premarket activity amid higher oil prices and a deluge of corporate earnings reports.US stock futures were mixed, with S&P 500 Index futures down 0.7%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures retreating 1.2% before the start of regular trading.The Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, will be released at 9 am ET.April's consumer confidence report and Richmond Fed manufacturing index will be released at 10 am ET.In premarket activity, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower, Ether ETF (EETH) retreated by 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.5%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was 0.01% lower.Allegion (ALLE) stock was down more than 4% before the opening bell after the company reported lower Q1 adjusted earnings.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 4.2%, while the iShares Semiconductor ETF (SOXX) fell by 4%.Intel (INTC) shares were up more than 1% in Tuesday's premarket activity after gaining 2.9% at the previous close. Bloomberg reported Monday, citing a person familiar with the matter, that the company has launched an investment-grade bond sale to help finance its $14.20 billion plan to regain full ownership of its Irish chip manufacturing facility.EnergyThe iShares US Energy ETF (IYE) was up 1.4%, while the State Street Energy Select Sector SPDR ETF (XLE) rose by 1.7%.BP (BP) stock was up more than 3% before Tuesday's opening bell after the company reported higher Q1 underlying replacement cost profit and sales.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.3%. The iShares US Consumer Staples ETF (IYK) advanced 0.8%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was 0.2% lower, while the State Street SPDR S&P Retail ETF (XRT) declined by 0.2%.Coca-Cola (KO) shares were up more than 2% pre-bell after the company reported higher Q1 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.5%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) retreated by 0.1%.Zimmer Biomet (ZBH) stock was down more than 2% premarket after closing the prior session with a 1.5% gain. The company reported higher Q1 financial results and said its chief financial officer, Suketu Upadhyay, is leaving the company.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.4% lower.Barclays (BCS) shares were down more than 2% pre-bell. Bloomberg reported the company has reserved 228 million British pounds ($307.9 million) in Q1 to cover the collapse of specialty lender MFS.CommoditiesFront-month US West Texas Intermediate crude oil rose by 5.1% to $101.28 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.7% to $2.53 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 4.7%, while the United States Natural Gas Fund (UNG) was 0.4% lower.Gold futures for May were down by 2.6% at $4,573.30 an ounce on the Comex. Silver futures retreated by 3.9% to $72.60 an ounce. SPDR Gold Shares (GLD) was 2.3% lower, and the iShares Silver Trust (SLV) fell by 3.9%.

Dow JonesNasdaq CompositeS&P 500$ALLE$BCS$BETH$BITO$BP$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KO$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$ZBH
Oil & Energy

Interest Grows in North American Hydrocarbons as Middle East Conflict Endures, Says WoodMac

The depth and duration of the disruption to global energy supplies by the closure of a single waterway in the Middle East's cluster of oil producing countries has prompted increased interest in resources available elsewhere, Wood Mackenzie said in an opinion article on Monday.While there were already plans to increase production from various geographies before the Iran war, the conflict has provided additional momentum to bring these forth, according to the article's author, Ed Crooks, Wood Mackenzie Vice Chair for the Americas and Energy Gang podcast host.Venezuela has been moving faster to raise output, something facilitated by the capture of President Nicolas Madura in January. Legislative reforms have passed in the National Assembly giving clarity of maximum royalties and taxes.At the same time, state oil company PDVSA lost exclusive control of oil production and sales, the article said, making way for private players to have control of their own projects and access to arbitration.Foreign oil companies have set out plans to boost the country's output. Chevron (CVX) said it can boost its production in Venezuela by 50% over an 18-24 month timespan and Repsol is aiming for the same increase within 12 months.Shell (SHEL) is said to be in negotiations with Venezuela's government to develop more gas assets and could take final investment decisions before the end of the year if conditions are right.Elsewhere, there was record revenue generated by a lease sale of areas in Alaska's National Petroleum reserve, Crooks noted, while in the Gulf of Mexico, which the US government recognizes as Gulf of America, Occidental Petroleum (OXY) said it had made an oil discovery that would extend the working life of its production facilities.BP (BP) last month said it received approval from the US Bureau of Ocean Energy Management to develop its $5 billion Kaskida project.Claudia Sheinbaum, Mexico's president, said she was in favor of increasing natural gas production through development of unconventional resources to reduce dependence on the US which provides about 75% of Mexico's gas. It now targets output of 3.2 billion cubic feet per day from unconventional sources by 2035.Given the lead times involved in establishing more projects, companies need relative certainty of future commodities prices and change in output to decide on whether investing is viable.There is no sign of any general uptick in US energy industry activity at present with no increase in the number of drilling rigs operating in the US around mid-April, the article said.Venezuela has been able to achieve an increase as a result of easing of US sanctions, with output rising to 1.1 million barrels a day in March from 900,000 in January. But resources like those in Alaska or the Gulf of America will need years to reach the market.Venezuela may have some capacity to boost LNG supply if its gas can be piped to Trinidad to supply the Atlantic LNG liquefaction plant there.Meanwhile Eni (E) and Repsol have reached a deal with Venezuela's government through which they will export gas from the Perla field using a floating LNG vessel. There is also an opportunity for gas to be piped to Colombia, which would free up the LNG it otherwise uses.

$BP$CVX$E$OXY$SHEL
Research

Research Alert: CFRA Maintains Sell Opinion On Shares Of Bp P.l.c.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price for BP to USD35 (from USD30) on revised EPS forecasts, based on a 2026 P/E of 7.8x, which reflects the five-year average. BP's Q1 2026 RC profit of USD3.2B (+2.1x Y/Y) was within market expectations but exceeded ours, coming in at 25% of the consensus 2026 estimate and 47% of ours. This represents a dramatic reversal from Q4's weakness, which declined 30% sequentially from Q3 2025, as Q1 2026 was boosted primarily by exceptional oil trading contributions and significantly higher realized refining margins of USD16.9/bbl versus Q4's USD15.2/bbl. Hence, we raise our EPS forecasts to USD4.47 (from USD2.74) for 2026 and USD4.02 (from USD2.82) for 2027 on higher crude oil and refining margin assumptions. We maintain a Sell rating on expectations of an oil price downcycle in 2027 after conflict-led elevated levels currently coupled with the stock's positive correlation to Brent crude oil price movements.

$BP
Equities

Update: BP's Q1 Underlying Profit, Sales Increase - Shares Up Pre-Bell

(Updates with additional details in the fifth and sixth paragraphs.)BP (BP) reported Q1 underlying replacement cost profit Tuesday of $1.24 per American depositary share, up from $0.53 a year earlier.Sales and other operating revenue for the quarter totaled $52.26 billion, up from $46.91 billion a year earlier.Analysts polled by FactSet expected $49.4 billion.The energy major maintained an interim dividend of $0.0832 per share to be paid on June 26 to shareholders of record as of May 15.BP said it anticipates lower Q2 reported upstream production as compared with Q1 due to the Middle East conflict, while 2026 reported upstream production is now expected to be lower from a year earlier, adding that its 2026 underlying upstream production is expected to be mostly flat as compared with 2025.The energy giant said it continues to expect $13 billion to $13.5 billion in capital expenses for 2026.Shares of the company were up over 3% in Tuesday premarket activity.

$BP
Research

Research Alert: Bp: Q1 2026 Exceptional Performance May Not Be Sustainable

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BP's Q1 2026 RC profit of USD3.2B (+2.1x Y/Y) was within market expectations but exceeded ours, representing 25% of 2026's consensus estimates and 47% of ours. This dramatic reversal from Q4's 30% sequential decline was boosted by strong oil trading and higher realized refining margins of USD16.9/bbl versus Q4's USD15.2/bbl. We have sustainability concerns about this windfall performance, particularly the customers & products' exceptional 2.1x sequential surge. Management warned of multiple Q2 2026 headwinds, including lower upstream production from seasonal maintenance and Middle East disruptions, lower midstream results, and higher refinery turnaround activity. Updated 2026 guidance now expects reported upstream production to be lower rather than broadly flat as previously guided, with underlying production guidance remaining broadly flat versus previous growth expectations, suggesting Middle East disruptions are having more severe operational impacts than initially anticipated.

$BP
Wire

BP's Q1 Underlying Profit, Sales Increase - Shares Up Pre-Bell

BP (BP) reported Q1 underlying replacement cost profit Tuesday of $1.24 per American depositary share, up from $0.53 a year earlier.Sales and other operating revenue for the quarter totaled $52.26 billion, up from $46.91 billion a year earlier.Analysts polled by FactSet expected $49.4 billion.The energy major maintained an interim dividend of $0.0832 per share to be paid on June 26 to shareholders of record as of May 15.Shares of the company were up 4% in Tuesday premarket activity.

$BP
Wire

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index shedding 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.2%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index added 0.1%.West Texas Intermediate crude oil fell 1.2% to $94.68 a barrel, and global benchmark Brent rose 0.5% to $105.64 a barrel. Henry Hub natural gas futures shed 3.7% to $2.52 per 1 million BTU.In corporate news, TotalEnergies (TTE) secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan. The stock fell 0.7%.X-Energy (XE) shares jumped 27% following their debut on Nasdaq.SLB (SLB) reported mixed Q1 results, reflecting headwinds from the Middle East conflict. The shares rose 2.8% as revenue topped estimates, while earnings fell.BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported. BP shares were down 0.4%.

$BP$SLB$TTE$XE
Wire

Sector Update: Energy Stocks Lower in Afternoon Trading

Energy stocks declined Friday afternoon, with the NYSE Energy Sector Index shedding 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index added 0.2%Crude oil futures dropped following reports that Iran's Foreign Minister Abbas Araghchi and President Donald Trump's envoys will arrive in Pakistan for peace talks this weekend. Araghchi, the main mediator between Tehran and Washington, is set to arrive in Islamabad with a small delegation, Pakistani government sources and an Iranian source told CNN. Pakistan is brokering the talks between Washington and Tehran, seeking an end to the war in Iran and a reopening of the Strait of Hormuz.West Texas Intermediate crude oil fell 2% to $93.92 a barrel, and global benchmark Brent eased 0.2% to $104.85 a barrel. Henry Hub natural gas futures declined 3.3% to $2.53 per 1 million BTU.In corporate news, X-Energy (XE) shares were up 26% following their debut on Nasdaq.SLB (SLB) reported mixed Q1 results, reflecting headwinds from the Middle East conflict. The shares rose 3.8% as revenue topped estimates, while earnings fell.BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported. BP shares were down 0.8%.

$BP$SLB$XE
Equities

Market Chatter: BP, Repsol Face EU Competition Complaint From Spanish Fuel Wholesaler

BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported Friday.The complaint alleges "coordinated corporate behaviors" among major oil firms and state-backed actions that restrict competition in Spain's fuel distribution market, according to the report.The complaint also names Moeve and infrastructure operator Exolum, alongside the Spanish state, the report said.Hatta Energy also said it faces issues due to tax classification rules that require upfront payments on fuel withdrawals from storage, which some competitors are exempt from, Bloomberg reported.BP, Repsol and Moeve 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.)

$BP
Sectors

Sector Update: Energy Stocks Rise Thursday

Energy stocks rose Thursday with the NYSE Energy Sector Index gaining 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index advanced 1.1%, and the Dow Jones US Utilities Index climbed 2.4%.In sector news, President Donald Trump ordered the US Navy to "shoot and kill" any boat that is laying mines in the Strait of Hormuz, according to his Truth Social post. The US and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege. Mediators are trying to get the diplomatic process back on track, including arranging a possible meeting as soon as Friday, the Wall Street Journal reported.West Texas Intermediate crude oil rose 3.6% to $96.32 a barrel, and global benchmark Brent advanced 3.6% to $105.54 a barrel. Henry Hub natural gas futures fell 4.8% to $2.59 per 1 million BTU.US natural gas stocks rose by 103 billion cubic feet in the week ended Friday, a larger gain than the 96 billion increase expected in a survey compiled by Bloomberg and following a revised gain of 60 billion in the previous week.In corporate news, NextEra Energy (NEE) shares jumped 7%. The company reported Q1 adjusted earnings that topped Wall Street estimates.BP (BP) shareholders rejected a proposal that would have eliminated some climate-related disclosure requirements that investors had voted for at previous meetings, and Chair Albert Manifold was elected with 82% of the vote, media outlets reported. BP shares eased 0.1%.Helix Energy Solutions (HLX) and Hornbeck Offshore Services agreed to merge in an all-stock deal to form an integrated offshore services company. Helix shares gained 0.7%.Chevron (CVX) resumed full production at its Wheatstone liquefied natural gas facility in Western Australia after repairs from damage caused by a cyclone last month, Reuters reported. Chevron shares rose 0.7%.

$BP$CVX$HLX$NEE
Sectors

Sector Update: Energy Stocks Rise Thursday Afternoon

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.6%.The Philadelphia Oil Service Sector Index was climbing 1.5%, and the Dow Jones US Utilities Index was rising 2.3%.In sector news, President Donald Trump has ordered the US Navy to "shoot and kill" any boat that is laying mines in Hormuz, according to his Truth Social post on Thursday. On the same day, Iran flaunted its tightened grip over Hormuz with a video of commandos storming a cargo ship named MSC Francesca, Reuters reported. The US and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege. Mediators are trying to get the diplomatic process back on track, including arranging a possible meeting between warring parties as soon as Friday, The Wall Street Journal reported.Front-month West Texas Intermediate crude oil was rising 5.3% to $97.92 a barrel, and the global benchmark Brent crude contract was advancing 4.1% to $106.04 a barrel. Henry Hub natural gas futures fell 5% to $2.59 per 1 million BTU.US natural gas stocks rose by 103 billion cubic feet in the week ended April 17, a larger gain than the 96 billion increase expected in a survey compiled by Bloomberg as of 7:35 am ET and following a revised increase of 60 billion cubic feet in the previous week.In corporate news, PG&E (PCG) reported Q1 adjusted earnings Thursday of $0.43 per share, up from $0.33 a year earlier. Analysts surveyed by FactSet expected $0.40. Its shares were 0.2% higher.Helix Energy Solutions (HLX) and Hornbeck Offshore Services have agreed to merge in an all-stock deal to form an integrated offshore services company. Helix Energy Solutions shares rose 0.6%.BP (BP) shareholders rejected a proposal that would have eliminated some climate-related disclosure requirements that investors had voted for at previous meetings, and Chair Albert Manifold was elected with 81.8% of the vote, media outlets reported Thursday. BP shares were down 0.3%.

$BP$HLX$PCG
Sectors

Sector Update: Energy

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.The Philadelphia Oil Service Sector Index was climbing 1.6%, and the Dow Jones US Utilities Index was rising 2.4%.Front-month West Texas Intermediate crude oil was rising 3.8% to $96.49 a barrel, and the global benchmark Brent crude contract was advancing 3.4% to $105.41 a barrel. Henry Hub natural gas futures fell 5.1% to $2.58 per 1 million BTU.In corporate news, BP (BP) shareholders rejected a proposal that would have eliminated some climate-related disclosure requirements that investors had voted for at previous meetings, and Chair Albert Manifold was elected with 81.8% of the vote, media outlets reported Thursday. BP shares were down 0.6%.

$BP
Wire

BP Shareholders Reportedly Reject Climate-Disclosure Proposal, Elect Chairman

BP (BP) shareholders rejected a proposal that would have eliminated some climate-related disclosure requirements that investors had voted for at previous meetings, and Chair Albert Manifold was elected with 81.8% of the vote, media outlets reported Thursday.Shareholders also voted down a proposal that would have given BP the option to host fully virtual annual general meetings.Decisions relating to the resolutions "were made in good conscience" as part of an effort to simplify the business, Manifold said, according to a report by The Wall Street Journal.Price: $46.27, Change: $-0.10, Percent Change: -0.22%

$BP
Wire

BP Shareholders Reportedly Reject Climate-Disclosure Proposal, Elect Chairman

BP Shareholders Reportedly Reject Climate-Disclosure Proposal, Elect Chairman

$BP
Equities

RBC Raises Price Target on BP to GBP7 From GBP6.40, Keeps Sector Perform Rating

BP's (BP) London stock has an average rating of overweight and mean price target of GBP6.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$BP
Sectors

Sector Update: Energy Stocks Advance Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.3%.The Philadelphia Oil Service Sector Index was climbing 1.6%, while the Dow Jones US Utilities Index fell 1.8%.Front-month West Texas Intermediate crude oil rose 2.8% to $92.13 a barrel, and the global benchmark Brent crude contract was advancing 1.8% to $97.23 a barrel. Henry Hub natural gas futures increased 0.3% to $2.70 per 1 million BTU.In corporate news, Vaalco Energy (EGY) shares jumped 10% after the company said its Etame 14H development well is in an attic position after the company drilled, completed and placed it on production in Gabon.Halliburton (HAL) shares gained 4.1% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.Spain's National Markets and Competition Commission, or CNMC, has shelved its investigation into BP (BP), Repsol, and Cepsa's alleged collusive practices and abuse of their dominant market position, according to a translation of a Tuesday statement from the regulator. BP shares added 1.9%.Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported, citing court documents. Shell shares were up 0.9%.

$BP$EGY$HAL$SHEL
Sectors

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1%.The Philadelphia Oil Service Sector Index was climbing 1.4%, while the Dow Jones US Utilities Index fell 1.4%.Front-month West Texas Intermediate crude oil was rising 2.8% to $92.10 a barrel, and the global benchmark Brent crude contract was advancing 3% to $98.30 a barrel. Henry Hub natural gas futures slightly increased to $2.69 per 1 million BTU.In corporate news, Halliburton (HAL) shares gained 3.7% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.Spain's National Markets and Competition Commission, or CNMC, has shelved its investigation into BP (BP), Repsol, and Cepsa's alleged collusive practices and abuse of their dominant market position, according to a translation of a Tuesday statement from the regulator. BP shares gained 1.5%.Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported, citing court documents. Shell shares were up 0.4%.BHP (BHP) is looking to pursue large-scale copper exploration in Zambia, Reuters reported Tuesday, citing the country's mines ministry. The company is targeting major deposits that are harder to detect using traditional methods, focusing on deeply buried or geologically concealed resources, the mines ministry quoted Campbell McCuaig, BHP's head of global generative exploration, as saying, Reuters reported. BHP shares were down 1.9%.

$BHP$BP$HAL$SHEL

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