Sector Update: Energy

MT newswire2026/10/01 19:33

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03:33 PM EDT, 10/01/2026 (MT Newswires) -- Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 1.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.8%. The Philadelphia Oil Service Sector Index increased 0.8%, and the Dow Jones US Utilities Index advanced 0.4%. Front-month West Texas Intermediate crude oil rose 3% to $93.12 a barrel, and the global benchmark Brent crude contract climbed 4.5% to $102.44 a barrel. Henry Hub natural gas futures fell 2.4% to $2.95 per 1 million BTU. In corporate news, Occidental Petroleum (OXY) shares rose 4.3% after Goldman Sachs upgraded the stock to buy from neutral and lifted its price target to $69 from $63.

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The "Future Investment Initiative" summit in Saudi Arabia, known as the "Desert Davos," has announced its postponement. The 10th edition of the event, originally scheduled to take place in Riyadh from October 26 to 29, has been postponed until 2027. The delay is due to ongoing attacks by Houthi forces targeting locations within Saudi Arabia, including Riyadh Airport and the Saudi Aramco headquarters. According to the draft agenda, planned attendees included senior executives from financial giants such as Goldman Sachs, JPMorgan, and Blackstone.

华尔街见闻•2026/10/19 21:01