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Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index down 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.2%.The Philadelphia Oil Service Sector Index was decreasing 0.7%, and the Dow Jones US Utilities Index was down 0.7%.In sector news, President Donald Trump said Friday on Truth Social that he is meeting now in the Situation Room to make a final determination on the memorandum of understanding between the US and Iran. The ceasefire would need to include reopening the Strait of Hormuz and dismantling Tehran's capacity to make a nuclear weapon, the president has said previously.Front-month West Texas Intermediate crude oil fell 1.5% to $87.60 a barrel, and the global benchmark Brent crude contract dropped 1.8% to $92.05 a barrel. Henry Hub natural gas futures climbed 5% to $3.04 per 1 million BTU.In corporate news, Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported Friday, citing industry sources. Output fell to between 5,000 and 10,000 metric tons on Tuesday from typically 125,000 tons a day, according to the report. Chevron shares were shedding 0.4%.ReNew Energy Global (RNW) has received a non-binding proposal from Canada Pension Plan Investment Board and ReNew's CEO Sumant Sinha to buy shares not already owned by the consortium for $6.75 each in cash, the company said Friday. ReNew shares rose 2.1%.Exxon Mobil (XOM) is projecting oil prices to shoot up once again in the coming weeks when inventories reach record low levels, the company's senior vice president Neil Chapman said Thursday, according to a FactSet transcript. Exxon shares were down 0.9%.Sempra (SRE) is being urged by activist investor Voss Capital to spin off its Oncor electricity unit, Reuters reported. Voss Capital, which owns less than 1% of Sempra, has argued that a newly independent Oncor Electric Delivery Co. would become the highest-growth public transmission utility in the US and could be worth up to $78 billion by the end of 2028, the report said. Sempra shares were down 1.3%.

$CVX$RNW$SRE$XOM
Sectors

Sector Update: Energy Stocks Retreat Friday Afternoon

Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index down 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.9%.The Philadelphia Oil Service Sector Index was decreasing 0.7%, and the Dow Jones US Utilities Index was down 0.6%.In sector news, the US and Iran have agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program, Axios reported Thursday. However, Trump is yet to sign off on the deal, according to the report. In a social media post Friday morning, Trump said he was heading to the White House Situation Room "to make a final determination," as he announced an end to the naval blockade against Iran.Front-month West Texas Intermediate crude oil fell 2% to $87.14 a barrel, and the global benchmark Brent crude contract dropped 1.9% to $91.93 a barrel. Henry Hub natural gas futures climbed 5% to $3.04 per 1 million BTU.In corporate news, Exxon Mobil (XOM) is projecting oil prices to shoot up once again in the coming weeks when inventories reach record low levels, the company's senior vice president Neil Chapman said Thursday, according to a FactSet transcript. Exxon shares were down 0.8%.Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported Friday, citing industry sources. Output fell to between 5,000 and 10,000 metric tons on Tuesday from typically 125,000 tons a day, according to the report. Chevron shares were shedding 0.5%.ReNew Energy Global (RNW) has received a non-binding proposal from Canada Pension Plan Investment Board and ReNew's CEO Sumant Sinha to buy shares not already owned by the consortium for $6.75 each in cash, the company said Friday. ReNew shares rose 2.3%.

$CVX$RNW$XOM
Wire

ReNew Energy Global Receives $6.75 a Share Buyout Proposal

ReNew Energy Global (RNW) has received a nonbinding proposal from Canada Pension Plan Investment Board and ReNew's chief executive officer, Sumant Sinha, to acquire shares not already owned by the consortium for $6.75 each in cash, the company said Friday.The renewable energy company said the proposed transaction would use a UK scheme of arrangement structure and allow shareholders either to accept the cash offer or retain their shares through a rollover election.ReNew Energy said a special committee of independent directors is reviewing the proposal and has hired Rothschild as financial adviser and Linklaters as legal counsel.The company said no assurance exists that the proposal or any other transaction will proceed.Shares of the company were up nearly 3% in recent early Friday trading.Price: $6.44, Change: $+0.19, Percent Change: +3.12%

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Commodities

ReNew Energy Posts Higher Installed Capacity, Steady Power Sales in 2026

ReNew Energy Global (RNW) reported full-year earnings on Monday, showing that its total portfolio rose to about 20 gigawatts, compared to 17.3 GW the previous year, including 1.7 GW/6.2 gigawatt-hours of battery energy storage systems.The renewable energy firm said its commissioned capacity rose 16.6% over the year to about 12.6 GW, and further to about 12.8 GW after an additional 247 megawatts were added post-period.The company commissioned about 2.4 GW of new capacity in 2026, including 1.7 GW of solar, 0.6 GW of wind and 25 MW/100 megawatt-hours of storage.It also reported net asset recycling of 600 MW during the year.Revenue from the sale of power rose to 88.2 billion Indian Rupees ($940 million) during the fiscal year, compared with 81.6 billion Indian Rupees a year ago. However, Q4 power revenue was broadly flat at 18.36 billion Indian Rupees, compared with 18.41 billion Indian Rupees a year earlier.Electricity generation climbed by 11.3% in 2026 to 24,008 million kWh, buoyed by a 17.9% rise in wind output and a 6.2% increase in solar generation. Quarterly output reached 5,189 million kilowatt-hours, up 3.7% over the year.ReNew Energy's manufacturing business reported an increase in external sales, with total income rising to 41.94 billion Indian Rupees in 2026 from 13.25 billion Indian Rupees a year earlier.Quarterly, manufacturing revenue rose to 11.93 billion Indian Rupees from 9.91 billion Indian Rupees a year earlier.The company said its solar module manufacturing capacity stands at 6.4 GW, with 2.5 GW of solar cell capacity, and it is expanding cell manufacturing by an additional 4 GW, expected to be operational by December.Price: $5.59, Change: $+0.24, Percent Change: +4.50%

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Sectors

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index down 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.3%.The Philadelphia Oil Service Sector Index was adding 0.4%, and the Dow Jones US Utilities Index was shedding 0.9%.In sector news, President Donald Trump said he sees the US-Israel war with Iran "as very close to over," news outlets reported, citing an interview on Fox Business Network conducted Tuesday and broadcast Wednesday.Front-month West Texas Intermediate crude oil shed 0.3% to $90.98 a barrel, and the global benchmark Brent crude contract was steady at $94.79 a barrel. Henry Hub natural gas futures increased 0.5% to $2.61 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, declined 5.1 million barrels in the week ended April 10 following an increase of 1.3 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 900,000 barrels after a 3.1-million-barrel increase in the previous week, compared with the 1.9-million-barrel increase expected in a survey compiled by Bloomberg.In corporate news, ReNew Energy Global (RNW) shares rose 2.4% after the firm said Wednesday it has commissioned roughly 2.4 gigawatts of assets in fiscal 2026, bringing its total operating capacity to about 12.6 GW.Spire (SR) has agreed to sell its natural gas storage assets in Wyoming and Oklahoma to I Squared Capital for $650 million, the companies said Wednesday. Spire shares were down 0.4%.Equinor's (EQNR) Danske Commodities said it eliminated about 28 positions in March, as the company aims to further its new commercial strategy. Equinor shares fell 3.2%.NOV (NOV) shares fell 0.4% after the company said disruptions linked to the war in the Middle East are expected to weigh on its Q1 results, with revenue and earnings coming in below prior guidance due to logistical challenges and delayed equipment deliveries in the region.

$EQNR$NOV$RNW$SR
Sectors

Sector Update: Energy

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index down 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.3%.The Philadelphia Oil Service Sector Index was adding 0.4%, and the Dow Jones US Utilities Index was shedding 0.9%.Front-month West Texas Intermediate crude oil shed 0.3% to $90.98 a barrel, and the global benchmark Brent crude contract was steady at $94.79 a barrel. Henry Hub natural gas futures increased 0.5% to $2.61 per 1 million BTU.In corporate news, ReNew Energy Global (RNW) shares rose 2.2% after the firm said Wednesday it has commissioned roughly 2.4 gigawatts of assets in fiscal 2026, bringing its total operating capacity to about 12.6 GW.

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