Sector Update: Energy Stocks Higher Late Afternoon
MT newswire2026/10/05 19:5503:55 PM EDT, 10/05/2026 (MT Newswires) -- Energy stocks advanced late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%. The Philadelphia Oil Service Sector Index was climbing 3.6%, and the Dow Jones US Utilities Index increased 0.6%. In geopolitical news, Saudi Arabia-backed Yemeni government forces advanced on Monday to retake the coast around the Bab el-Mandeb Strait, a chokepoint similar to the Strait of Hormuz, pushing the Iran-backed Houthis out of most of the areas they had seized in September, Reuters reported. Meanwhile, Iran's Interior Minister Eskandar Momeni travelled to Doha at the invitation of his Qatari counterpart, Al Jazeera reported. Front-month West Texas Intermediate crude oil fell 2.2% to $89.07 a barrel, and the global benchmark Brent crude contract shed 2.1% to $100.07 a barrel. Henry Hub natural gas futures rose 0.9% to $3.06 per 1 million BTU. In corporate news, Cenovus Energy (CVE) has agreed to buy fellow Canadian energy company Athabasca Oil in a cash-and-stock deal with an implied enterprise value of roughly 5.7 billion Canadian dollars ($4 billion), as it aims to expand its core oil sands business. Cenovus shares were down 2.9%. Chevron (CVX) said Jeff Gustavson, who currently serves as president of its New Energies unit, has been appointed as chief financial officer, effective Jan. 1, 2027. Shares eased 0.3%. Suncor Energy (SU) agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore assets to Ithaca Energy for 1.2 billion Canadian dollars ($841.3 million) in upfront cash, plus up to CA$350 million in contingent payments, Suncor said Sunday. Suncor shares were down 1.1%. BP (BP) CEO Meg O'Neill said Monday that the company has adjusted its refineries to maximize diesel production amid sharper prices of the commodity. Speaking at the Energy Intelligence conference in London, O'Neill said that the company has been able to adapt and respond to changing customer needs. BP
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
TSMC's Q3 Revenue Represents a Slightly Larger-Than-Typical Beat, Wedbush Says
10:36 AM EDT, 10/09/2026 (MT Newswires) -- Taiwan Semiconductor Manufacturing's (TSM) Q3 revenue of NT$1.494 trillion ($46.77 billion) represented a roughly 3% beat versus the brokerage's prior estimate and consensus, compared with a 1% beat in the previous quarter, Wedbush said in a Friday note. With revenue ahead of the range, Wedbush expects the quarterly gross margin to at least meet the 66% midpoint of TSMC's 65% to 67% guidance and is more likely to exceed its 66.0% estimate given better utilization rates, according to the research note. Looking ahead, Wedbush expects Q4 sales of NT$1.599 trillion and sales growth of 41% in US dollars or 43% in Taiwanese dollars. Additionally, its gross margin estimate of 65.3% sits below the consensus estimate of 66.1%, with Wedbush saying it would not be surprised if Q4 gross-margin guidance ticks modestly lower on account of headwinds the chipmaker has previously mentioned. Wedbush maintained its outperform rating with an NT$3,000 price target. Price: 453.01, Change: -4.98, Percent Change: -1.09
BUZZ-Delta Air Lines shares fall after sharply lowering full-year earnings guidance
Latest Updates October 9 – ** Delta Air Lines (DAL.N) shares fell 3% to $79.67 ** Delta Air Lines (DAL) (link) lowered its full-year adjusted profit forecast due to soaring jet fuel prices ** Peer companies United Airlines (UAL.O) and Alaska Airlines (ALK.N) shares both fell about 2.8%, while American Airlines (AAL.O) was down 2.4% ** The U.S. airline now expects 2026 adjusted earnings per share to be between $5.10-$5.60, compared to a previous expectation of $6.5-$7.5 per share ** The midpoint of the current range is $5.35 per share, below analysts’ expectation of $5.46 per share — according to data compiled by LSEG ** DAL expects its full-year fuel costs to increase by about $6 billion, up from the previous forecast of a $4 billion increase ** The company’s third-quarter adjusted earnings per share were $1.72, missing the $1.75 estimate, marking its first quarterly profit miss in two years ** Analysts tracking DAL on average give it a "Buy" rating ** As of Thursday's close, Delta Air Lines (DAL) has risen 18.4% year-to-date, the highest gain among major U.S. competitors (For the convenience of non-native English speakers, this Reuters report is automatically translated into several other languages. Due to possible errors or missing context in machine translations, Reuters makes no guarantee as to the accuracy of the translated text, which is provided for reader convenience only. Reuters is not responsible for any damage or loss caused by the use of automated translation features.)
3 Best Crypto Stocks with 120%+ Upside, According to Analysts
