Tiger Brokers

Sector Update: Energy

MT Newswires Live
Oct 06

Energy stocks were declining pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1% lower.

The United States Oil Fund (USO) was down 1.9% and the United States Natural Gas Fund (UNG) was 0.9% higher.

Front-month US West Texas Intermediate crude oil was 2.5% lower at $87.21 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.9% to $97.45 per barrel, and natural gas futures were up 0.4% at $3.08 per 1 million British Thermal Units.

TORM (TRMD) said OCM Njord, a company indirectly owned by funds managed by Oaktree Capital Management and its affiliates, priced a secondary offering of 6.3 million class A shares for gross proceeds of about $253.5 million. TORM stock was down more than 3% premarket.

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