News

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index adding 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.7%.

The Philadelphia Oil Service Sector index climbed 2%, and the Dow Jones US Utilities index gained 2%.

Front-month West Texas Intermediate crude oil was rising 0.5% to $82.54 a barrel, while global benchmark Brent was advancing 0.3% to $85.34 a barrel.

US natural-gas stocks rose by 65 billion cubic feet in the week ended July 5, a larger gain than the 56 billion increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week. Stocks at 3.199 trillion cubic feet are 9.7% higher than in the comparable week a year ago and 18.7% above their five-year average.

Henry Hub natural gas futures fell 2.7% to $2.27 per 1 million BTU.

In corporate news, Marathon Oil (MRO) agreed to a $241.5 million settlement with the US government for allegedly violating the Clean Air Act, the Environmental Protection Agency and Justice Department said Thursday. Marathon shares were rising 1.3%.

Martin Midstream Partners (MMLP) has received an acquisition proposal from Nut Tree Capital Management and Caspian Capital for $4 per unit in cash, the hedge funds said Thursday. Martin shares surged more than 12%.

The Federal Trade Commission is planning to delay a decision on whether to block Chevron's (CVX) $53 billion acquisition of Hess (HES) until an arbitration case with Exxon Mobil (XOM) is settled, Bloomberg reported Thursday. Chevron and Hess shares were each rising 0.2%, and Exxon was up 0.3%.

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