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Sector Update: Energy

05/07/2021 11:47

03:34 PM EDT, 05/07/2021 (MT Newswires) -- Energy stocks extended their week-ending advance, with the NYSE Energy Sector Index climbing 1.5% this afternoon while the SPDR Energy Select Sector ETF was up 1.8%.

The Philadelphia Oil-Service Sector index also was posting a 4.3% gain and the Dow Jones US Utilities Index was 0.5% higher.

Front-month West Texas Intermediate crude oil settled $0.19 higher at $64.90 per barrel while Henry Hub natural gas futures rose $0.03 higher at $2.96 per 1 million BTU.

In company news, Enerplus (ERF) gained 5.5% after overnight saying its non-GAAP Q1 net income more than doubled over year-ago levels, rising to C$0.23 per share and beating the Capital IQ consensus by C$0.06 per share. The oil and natural gas producer also increased its quarterly dividend by 10% to C$0.033 per share.