Investor Alert

July 10, 2019, 1:51 p.m. EDT

Energy stocks in broad rally as crude oil prices jump toward 7-week high

Energy stocks traded broadly higher Wednesday, on the back of a surge in oil prices after upbeat government supply data and amid concerns over a storm brewing in the Gulf of Mexico. The SPDR Energy Select Sector ETF (PSE:XLF) climbed 1.1%, and was the biggest gainer among the ETFs tracking the 11 S&P 500 sectors, as 28 of the energy ETF's (XLE) 29 equity components gained ground. The biggest gainer was Noble Energy Inc.'s stock (NYS:NE) , which rose 3.5%. Among other more active components, shares of Halliburton Co. (NYS:HAL) edged up 0.3%, Kinder Morgan Inc. (NYS:KMI) gained 0.3%, Apache Corp. (NYS:APA) advanced 1.5% and Exxon Mobil Corp. (NYS:XOM) hiked up 1.3%. The lone decliner was Anadarko Petroleum Corp.'s stock , which slipped 0.1%. Elsewhere, Chesapeake Energy Corp.'s stock surged 3.0%. Meanwhile, crude oil futures ran up 4.1% toward a 5th-straight gain, and a 7-week high. The XLE has now lost 4.9% over the past three months, while crude oil futures have declined 6.9% and the S&P 500 (S&P:SPX) has gained 3.8%.

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