Energy stocks rose late Thursday afternoon with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) adding 0.4%.
The Philadelphia Oil Service Sector index fell 0.6%, and the Dow Jones US Utilities index dropped 1.5%.
West Texas Intermediate crude oil was little changed at $66.32 a barrel, and global benchmark Brent advanced 0.2% to $69.47 a barrel.
US natural gas stocks fell by 80 billion cubic feet in the week ended Friday, a smaller drop than the 94 billion decrease expected in a survey compiled by Bloomberg and following the drop of 261 billion in the previous week.
Henry Hub natural gas futures fell 3.5% to $4.29 per 1 million BTU.
In corporate news, Venture Global (VG) is planning an $18 billion investment to expand its Plaquemines LNG facility south of New Orleans. Separately, the company reported a decline in Q4 revenue, while earnings missed expectations by analysts. Venture Global shares tumbled 36%.
Eni (E) received nonbinding offers for a minority stake in its carbon capture and storage unit from five parties, Reuters reported. Eni shares rose 0.2%.
BP (BP) said emissions under its operational control grew 4.7% in 2024 to 33.6 million metric tons from 2023. The stock fell 0.5%.
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