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Sectors

Sector Update: Energy Stocks Decline Premarket Friday

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.6% lower.The United States Oil Fund (USO) was down 3.8% and the United States Natural Gas Fund (UNG) was 1.2% lower.Front-month US West Texas Intermediate crude oil was 3.8% lower at $98.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 3.4% to reach $103.94 per barrel, and natural gas futures were down 1.2% at $2.80 per 1 million British Thermal Units.Petrobras (PBR) plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20), though the state-run oil company is waiting for government measures to protect consumers from the move, Reuters reported, citing two company sources. Petrobras shares were down 0.9% pre-bell.Equinor (EQNR) and Shell (SHEL) joint venture Adura's Jackdaw gas field approval is set to be delayed until after the Oct. 8 by-election, The Telegraph reported. Shares of Equinor were down more than 1% premarket.TotalEnergies (TTE) has agreed to acquire Plastic Energy's 35% stake in the Grandpuits advanced plastics recycling plant in France, making it the sole owner of the facility, the company said. TotalEnergies stock was 0.4% lower pre-bell.

$EQNR$PBR$SHEL$TTE$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Amid Inflation Data Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.8% and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Friday's premarket activity amid inflation data release.US stock futures were also higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.8% before the start of regular trading.The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.4% in August, as expected, and following a 0.1% increase in July, according to data released by the Bureau of Labor Statistics.The preliminary University of Michigan consumer sentiment reading for September will be released at 10 am ET.In premarket activity, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) retreated 0.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.04%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.9%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.Copart (CPRT) stock was up more than 6% after the company agreed to acquire ACV Auctions (ACVA) for $10.50 per share in cash, valuing the company at about $1.90 billion. ACV Auctions shares were up 44% premarket.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 1.1%, the iShares US Technology ETF (IYW) was 0.7% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 0.7%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.Adobe (ADBE) shares were down 3% after the software maker provided a fiscal Q4 revenue outlook below analyst estimates at the midpoint.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, while the Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was flat.Exelixis (EXEL) stock was down more than 3% premarket after the company said that the US Food and Drug Administration extended the review period for its new drug application for its metastatic colorectal cancer candidate, zanzalintinib, in combination with atezolizumab, by three months.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2.2% lower.UBS Group (UBS) shares were up 2% in early hours activity after the company said it has accepted $7.93 billion aggregate principal amount of notes in its cash tender offers for nine series of debt securities and upsized its maximum offer amount to about $5.85 billion from $4 billion.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) and the iShares US Consumer Staples ETF (IYK) were inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.4%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Kroger (KR) shares were down nearly 2% pre-bell after the company cut its guidance for full-year identical sales, excluding fuel.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down 0.8%.Petrobras (PBR) stock was up more than 1% before market open after Reuters reported Thursday that the company plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20), though the state-run oil company is waiting for government measures to protect consumers from the move.CommoditiesFront-month US West Texas Intermediate crude oil was down by 3.1% at $99.30 per barrel on the New York Mercantile Exchange. Natural gas was 1.8% lower at $2.78 per 1 million British Thermal Units. The United States Oil Fund (USO) declined 2.8%, while the United States Natural Gas Fund (UNG) retreated 1.6%.Gold futures for November were down by 1.4% at $4,346.10 an ounce on the Comex. Silver futures retreated 1.8% to $63.77 an ounce. SPDR Gold Shares (GLD) increased 0.9%, and the iShares Silver Trust (SLV) was 1.4% higher.

Dow JonesNasdaq CompositeS&P 500$ACVA$ADBE$CPRT$EXEL$FAS$FAZ$GLD$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$KR$PBR$QQQ$RTH$SLV$SOXX$SPY$UBS$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Energy

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.7% lower.The United States Oil Fund (USO) was down 3.8% and the United States Natural Gas Fund (UNG) was 1.2% lower.Front-month US West Texas Intermediate crude oil was 3% lower at $99.43 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.9% to $104.56 per barrel, and natural gas futures were down 1.4% at $2.80 per 1 million British Thermal Units.Petrobras (PBR) plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20), though the state-run oil company is waiting for government measures to protect consumers from the move, Reuters reported, citing two company sources. Petrobras shares were down more than 1% pre-bell.

$PBR
Asia Markets

Update: US Equity Futures Higher Pre-Bell as Traders Assess More Inflation Data and Drop in Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging higher pre-bell Friday as traders assessed the second of two key inflation reports this week and observed a drop in oil prices.Dow Jones Industrial Average futures were 0.7% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 0.8% higher.The US is continuing its campaign of economic pressure on Iran and its financial connections, with Treasury Secretary Scott Bessent saying that "a large bank" will be sanctioned by the US on Monday, according to a CNBC report.Iran-backed Houthi forces have taken over the port city of Mokha in Yemen, potentially giving Iran an avenue to increase attacks on vessels in the Red Sea, which has been an alternative route for ships avoiding the Strait of Hormuz, The Associated Press reported.Traders digested the latest round of earnings, with Kroger (KR) posting higher fiscal Q2 adjusted earnings and sales.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.1% at $104.32 per barrel and US West Texas Intermediate crude 3.1% lower at $99.31 per barrel.The August consumer price index, released at 8:30 am ET, rose 0.4%, compared with a 0.1% gain in the previous month, and meeting expectations in a survey compiled by Bloomberg.The University of Michigan consumer sentiment index for September, slated for 10 am ET, is expected at 51.0, down from 51.7 previously.In other world markets, Japan's Nikkei closed 1.9% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 1.2% lower. Meanwhile, the UK's FTSE 100 was up 0.7%, and Germany's DAX index was 0.7% higher in Europe's early afternoon session.In equities, Oracle (ORCL) shares were up 6.3% after the company reported late Thursday stronger-than-expected growth in fiscal Q1 adjusted earnings and sales and raised its full-year outlook. Micron Technology (MU) stock was up 1.8% after a Reuters report that the company will award its direct-labor employees in Taiwan with bonuses equivalent to 35 to 68 months of pay for fiscal 2026 after what it described as an extraordinary year. Copart (CPRT) and ACV Auctions (ACVA) shares rose 6.9% and 45%, respectively, after the two companies said Copart will buy ACV Auctions for $10.50 per share in cash, valuing the company at about $1.9 billion.On the losing side, Adobe (ADBE) shares fell 3.5% after the company late Thursday provided a fiscal Q4 revenue outlook below Wall Street's estimates at the midpoint and maintained its full-year annualized recurring revenue growth guidance. Petrobras (PBR) stock was down 1.6% after a Reuters report that the company plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20). Kroger shares dropped 2.7% after the company fell short of analysts' consensus estimates for fiscal Q2 sales.

Dow JonesNasdaq CompositeS&P 500$ACVA$ADBE$CPRT$KR$MU$ORCL$PBR
Equities

Market Chatter: Petrobras Mulls Increase in Diesel Prices

Petrobras (PBR) plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20), though the state-run oil company is waiting for government measures to protect consumers from the move, Reuters reported Thursday, citing two company sources.Petrobras is seeking to cut the gap between domestic diesel prices and global benchmarks that has grown amid the Middle East conflict and other factors, according to the report.The company didn't 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.)

$PBR
Sectors

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index easing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.4%.The Philadelphia Oil Service Sector Index was shedding 0.6%, and the Dow Jones US Utilities Index was declining 0.9%.In geopolitical news, an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger. Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, Reuters reported.Front-month West Texas Intermediate crude oil jumped 6.4% to $102.23 a barrel, and the global benchmark Brent crude contract popped 6.2% to $107.44 a barrel. Henry Hub natural gas futures rose 0.6% to $2.84 per 1 million BTU.In sector news, the Organization of the Petroleum Exporting Countries cut its global oil demand outlook for 2026 on Thursday as high energy prices are expected to weigh on consumption. The cartel now expects oil consumption to increase by 380,000 barrels this year, down from its prior forecast that called for a gain of 580,000 barrels.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 1.6 million barrels in the week ended Sept. 4 following a decrease of 7.6 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 400,000 barrels after a 4.5-million-barrel decline in the previous week, a much smaller drop than the 1.4-million-barrel decrease expected in a survey compiled by Bloomberg.US natural gas stocks rose by 40 billion cubic feet in the week ended Sept. 4, above the 34 billion increase expected in a survey compiled by Bloomberg and following an increase of 30 billion cubic feet in the previous week.In corporate news, Constellation Energy (CEG) agreed to acquire RISEC Holdings, owner of the Rhode Island State Energy Center, from Shell's (SHEL) North America energy unit, for $715 million. Constellation shares fell 2%, and Shell rose 0.5%.Braskem (BAK) said Wednesday that its subsidiary Voqen Energia amended a natural gas supply agreement with Petrobras (PBR), extending the contract through Dec. 31, 2029, from Dec. 31, 2026. Braskem shares jumped past 7%, and Petrobras was up 2.3%.TotalEnergies (TTE) and its partners plan to invest $10 billion in Angola over the next five years to increase oil output in the country, news outlets reported as early as Wednesday, citing remarks made by TotalEnergies CEO Patrick Pouyanne at a conference. TotalEnergies shares were down 0.2%.Vistra (VST) was Smart Insider's stock pick of the week after Chief Executive Jim Burke bought $1.2 million worth of shares between Aug. 24 and Sept. 1 at an average price of $135.38. Vistra shares were shedding 2.2%.

$BAK$CEG$PBR$SHEL$TTE$VST
Sectors

Sector Update: Energy

Energy stocks were lower late Thursday afternoon, with the NYSE Energy Sector Index easing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.4%.The Philadelphia Oil Service Sector Index was shedding 0.6%, and the Dow Jones US Utilities Index was declining 0.9%.In geopolitical news, an Iran-aligned militia group's threat to the alternative shipping route through the Strait of Hormuz grew stronger. Iran-aligned Houthis seized control of Yemen's port city of Mocha on Thursday, military sources said, gaining further leverage over the Bab el-Mandeb Strait, the southern outlet of the Red Sea and an important shipping route, Reuters reported.Front-month West Texas Intermediate crude oil jumped 6.4% to $102.23 a barrel, and the global benchmark Brent crude contract popped 6.2% to $107.44 a barrel. Henry Hub natural gas futures rose 0.6% to $2.84 per 1 million BTU.In corporate news, Braskem (BAK) said Wednesday that its subsidiary Voqen Energia amended a natural gas supply agreement with Petrobras (PBR), extending the contract through Dec. 31, 2029, from Dec. 31, 2026. Braskem shares jumped past 7%, and Petrobras was up 2.3%.

$BAK$PBR
Wire

Braskem Extends Natural Gas Supply Agreement With Petrobras Through 2029

Braskem (BAK) said Wednesday that its subsidiary Voqen Energia amended a natural gas supply agreement with Petrobras, extending the contract through Dec. 31, 2029, from Dec. 31, 2026.Under the amendment, contractual daily gas volumes will range from 300,000 cubic meters to 1 million cubic meters over the contract period. The agreement is valued at an estimated 1.85 billion Brazilian reais.The supply will be delivered at the entrance of the TBG, TAG and NTS transportation networks under a firm, non-flexible arrangement.Price: $21.49, Change: $+0.56, Percent Change: +2.65%

$BAK$PBR
Sectors

Sector Update: Energy Stocks Mostly Lower Pre-Bell Friday

Energy stocks were mostly lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) bucking the trend with a 0.2% gain.The United States Oil Fund (USO) was down 1%, while the United States Natural Gas Fund (UNG) was 1.7% lower.Front-month US West Texas Intermediate crude oil was down 1% at $82.73 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.5% to $89.30 per barrel, and natural gas futures were 2.5% lower at $2.84 per 1 million British Thermal Units.BW LPG (BWLP) stock was down more than 4% after the company reported lower Q2 revenue.BP (BP) shares were 0.8% lower after Reuters reported Thursday that the company is in exclusive talks with Energean to sell some of its upstream oil and gas assets in Egypt.Petrobras (PBR) stock was up 0.9% following Thursday 2.8% rise when Bloomberg reported that the company is considering starting exports of liquefied natural gas to Asia, with demand strong since the loss of supply from Qatar in the midst of the US-Iran war.

$BP$BWLP$PBR$UNG$USO$XLE
Commodities

Market Chatter: Brazil's Petrobras Mulls LNG Exports as Asian Demand Grows

Brazil's state-controlled oil company Petrobras (PBR) is considering starting exports of liquefied natural gas to Asia, with demand strong since the loss of supply from Qatar in the midst of the US-Iran war, Bloomberg reported on Thursday.Chief Executive Officer Magda Chambriard said during a joint press briefing in Singapore with shipbuilder Seatrium, based there, that Petrobras has been in talks with the company about liquefaction and shipping of its deepwater gas resources.She did not offer a timeline for the start of any LNG shipments, the article said, but the lead time would likely be significant considering the need to first build liquefaction capacity. Chambriard said that Asia was already the biggest offtaker of Petrobras exported crude.Bloomberg noted that despite Brazil's high ranking among South American countries for natural gas production volumes, more than half is re-injected into oil wells to increase production of crude.(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.)

$PBR
Commodities

Knot Offshore Partners Buys Hedda Knutsen for $24.4 Million, Refinances $225 Million

Knot Offshore Partners agreed to acquire the Hedda Knutsen for $24.4 million and completed a $225 million refinancing, strengthening its shuttle tanker portfolio and debt structure, the company said Wednesday.Knot's wholly owned Knot Shuttle Tankers will acquire Knutsen Canadian Chartering, which owns the Hedda Knutsen, for $113 million, while assuming $89.4 million in outstanding debt.The transaction also includes $800,000 in capitalized credit facility fees, bringing the initial acquisition cost to about $24.4 million, subject to customary working capital adjustments.Built by COSCO Shipping Heavy Industry and delivered in 2024, the Hedda Knutsen is a 154,000-deadweight-ton DP2 Suezmax shuttle tanker operating in Brazil.The vessel serves Petrobras (PBR) under a time charter with a fixed term through November 2034, with an option to extend the charter for another five years.The board of directors and independent conflicts committee approved the acquisition, with an outside independent financial adviser and legal counsel supporting their review.On Aug. 7, Knot subsidiaries that own the Tordis Knutsen, Ametista Brazil, Lena Knutsen, Anna Knutsen, and Brasil Knutsen signed a $225 million senior secured credit facility.Knot's new facility carries a 1.65% interest margin, includes 20 consecutive quarterly repayments and has a $111.1 million balloon payment due at maturity in June 2031.Price: $17.94, Change: $+0.08, Percent Change: +0.48%

$PBR
Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index slightly lower and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was up 0.1%, and the Dow Jones US Utilities Index declined 2.2%.Front-month West Texas Intermediate crude oil rose 0.1% to $86.90 a barrel, and the global benchmark Brent crude contract increased 0.4% to $94.13 a barrel. Henry Hub natural gas futures added 0.8% to $2.76 per 1 million BTU.In corporate news, GE Vernova (GEV) said Friday that it was selected by Quinbrook for the third stage of the Supernode battery energy storage project in Queensland, Australia, expanding its role across all three stages of the development. GE Vernova shares were shedding 0.8%.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 0.7%.Petrobras (PBR) shares added 0.6% 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 0.8%.Brookfield Renewable Partners (BEP) shares were down 0.2%. The company said late Thursday it is planning to issue 750 million Canadian dollars ($545 million) of green bonds.

$BEP$GEV$PBR$TTE$XOM
Sectors

Sector Update: Energy Stocks Mixed Friday Afternoon

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%.

$PBR$TTE$XOM
Sectors

Sector Update: Energy Stocks Lean Lower Pre-Bell Friday

Energy stocks were leaning lower pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.1%.The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 0.9% higher.Front-month US West Texas Intermediate crude oil was 0.2% lower at $86.64 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.1% to reach $93.70 per barrel, and natural gas futures were up 1.6% at $2.78 per 1 million British Thermal Units.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. Shares of TotalEnergies were 0.2% lower premarket.Equinor (EQNR) Energy has exercised its one-year option for the Havila Troll vessel, extending the charter through November 2027, Havila Shipping said. Equinor shares were 0.2% higher pre-bell.Petroleo Brasileiro (PBR), or Petrobras, said 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. Petrobras stock was up 0.2% premarket.

$EQNR$PBR$TTE$UNG$USO$XLE
Equities

Petrobras Enters Negotiations for 4 Offshore Exploration Blocks in Ghana

Petroleo Brasileiro SA (PBR) 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.The Brazilian state-run oil company said it had submitted an expression of interest for the blocks as part of its strategy to replenish oil and gas reserves by exploring new frontiers in Brazil and abroad.Petrobras said the Ghana opportunity is intended to diversify its exploration portfolio and support long-term business sustainability. The company said it will now negotiate the terms of the exploration contracts directly with Ghanaian authorities.The company did not provide financial details or a timeline for the negotiations.Shares of the company were up 0.5% in Friday premarket activity

$PBR
Sectors

Sector Update: Energy Stocks Higher Tuesday Afternoon

Energy stocks gained Tuesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.The Philadelphia Oil Service Sector Index was falling 1.1%, and the Dow Jones US Utilities Index advanced 0.5%.Crude oil prices rose after the deadline to reach a permanent peace deal with Iran expired. "There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," President Donald Trump posted on his social media platform. "The Hormuz Strait is open and operating. All water mines have been removed or detonated."Meanwhile, Reuters reported, citing Iran's negotiator Mohammad Baqer Qalibaf in state media on Tuesday that Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June.Front-month West Texas Intermediate crude oil rose 0.6% to $85.04 a barrel, and the global benchmark Brent crude contract added 0.4% to $91.20 a barrel. Henry Hub natural gas futures increased 2.4% to $2.75 per 1 million BTU.In corporate news, KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 per share, or roughly $9 billion, The Wall Street Journal reported. UGI shares jumped past 11%.Targa Resources (TRGP) said late Monday it has struck new 20-year fee-based, midstream agreements to support ExxonMobil's (XOM) development of its Permian Basin acreage. Targa shares jumped past 7%.Petrobras (PBR) is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported. Petrobras shares were fractionally lower, and Braskem was down 2.2%.Ecopetrol (EC) has completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, boosting its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol shares eased 0.2%.

$BAK$EC$PBR$TRGP$UGI
Sectors

Sector Update: Energy Stocks Rise Pre-Bell Tuesday

Energy stocks were rising pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.1%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 0.7% higher.Front-month US West Texas Intermediate crude oil was 1% higher at $85.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.5% to $91.30 per barrel, and natural gas futures were up 0.4% at $2.70 per 1 million British Thermal Units.Petroleo Brasileiro (PBR) is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported, citing people familiar with the matter. The company's shares were 0.9% higher premarket.Ecopetrol (EC) completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, strengthening its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol stock was up 0.7% pre-bell.SLB (SLB) has been awarded a contract by Brunei Shell Petroleum to support production restoration from shut-in wells at a number of offshore fields, the company said. SLB shares were 0.2% higher premarket.

$BAK$EC$PBR$SLB$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were rising pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.1%.The United States Oil Fund (USO) was up 0.7% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 0.8% higher at $85.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $91.17 per barrel, and natural gas futures were up 0.7% at $2.71 per 1 million British Thermal Units.Petroleo Brasileiro (PBR), also known as Petrobras, is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported, citing people familiar with the matter. Petrobras shares were 0.9% higher premarket.

$BAK$PBR
Equities

Market Chatter: Petrobras Mulling Loosening Braskem's Contract Terms, Boosting Naptha Supplies Amid Debt Negotiations

Petroleo Brasileiro (PBR), also known as Petrobras, is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported Monday, citing people familiar with the matter.Given the involvement of distressed debt investor IG4 Capital in Braskem, Brazil's Petrobras has greater visibility into Braskem and is mulling extending payment timelines, cutting interest rates and boosting the amount of naphtha it offers Braskem, the people told the news agency.That decision could lower the amount of credit Braskem needs from banks, reducing leverage, Bloomberg reported.Some creditors, including Elliott Investment Management and Contrarian Capital Management, are seeking a financial commitment from Petrobras, with proposals including an equity contribution, working capital or junior debt, according to the report.Petrobras has resisted an equity injection because it could increase its ownership of Braskem and potentially require Petrobras to consolidate the company's debt on its balance sheet, Bloomberg reported.Bloomberg said IG4 declined to comment on the story. Petrobras didn't immediately reply to messages seeking comments.Petrobras, Braskem and IG4 did not immediately respond 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.)

$BAK$PBR
Sectors

Sector Update: Energy Stocks Edge Higher Premarket Monday

Energy stocks edged higher premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.2%.The United States Oil Fund (USO) was up 0.6% and the United States Natural Gas Fund (UNG) was 1% lower.Front-month US West Texas Intermediate crude oil was 0.5% higher at $82.84 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.7% to $89.14 per barrel, and natural gas futures were down 2.3% at $2.67 per 1 million British Thermal Units.Palantir Technologies (PLTR) Co-Founder Peter Thiel has acquired 1,189,792 American depositary shares in Argentina's Vista Energy (VIST) worth about $75.9 million, according to a US Securities and Exchange Commission filing published Friday. Shares of Vista Energy were up 3.8% pre-bell.Petrobras (PBR) has identified hydrocarbons at its Morpho exploratory well in ultra-deep waters off Amapa, Brazil, the company said. Shares of Petrobras were up 1.7% premarket.Empire Petroleum (EP) stock was up 5.8% after the company said it successfully re-entered and evaluated the Wakefield-Harrison GU B1 well in Texas to a depth of 21,006 feet.

$EP$PBR$PLTR$UNG$USO$VIST$XLE

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