News

Energy stocks eased late Wednesday afternoon with the NYSE Energy Sector Index little changed, paring earlier losses, and the Energy Select Sector SPDR Fund (XLE) down 0.1%.

The Philadelphia Oil Service Sector index dropped 0.3%, and the Dow Jones US Utilities index rose 0.3%.

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell 400,000 barrels in the week ended May 3 following an increase of 7.9 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell 1.4 million after a gain of 7.3 million in the previous week.

West Texas Intermediate crude oil rose 0.9% to $79.11 a barrel while the global benchmark Brent crude contract advanced 0.6% to $83.69 a barrel. Henry Hub natural gas futures dropped 1% to $2.185 per 1 million BTU.

In corporate news, Vistra (VST) shares jumped 10% after Q1 operating revenue topped expectations by analysts.

Pampa Energia (PAM) and Central Puerto (CEPU) are leading efforts to renegotiate the terms of a debt settlement offered by the Argentine government, Bloomberg reported Wednesday. Pampa shares gained 0.1% and Central Puerto eased 0.1%.

Aris Water Solutions (ARIS) shares surged 8.9%, a day after the company posted Q1 adjusted net income and revenue that topped estimates by analysts.

New Fortress Energy (NFE) reported Q1 adjusted earnings Wednesday of $0.67 per diluted share, down from $0.90 a year earlier. Analysts polled by Capital IQ expected $0.64. The stock added 1.1%

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