Energy Sector Change for 12/28/2023: BE, TELL, ACDC, NFE

Energy shares fell slack Thursday afternoon with the NYSE Energy Sector Index and the Energy Decide Sector SPDR Fund (XLE) every reducing 1.2%.

The Philadelphia Oil Provider Sector index dropped 1.3%, and the Dow Jones US Utilities index rose 0.7%.

US low oil shares, including these in the Strategic Petroleum Reserve, fell 6.1 million barrels in the week ended Dec. 22 following an magnify of 3.5 million barrels in the old week.

West Texas Intermediate low oil fell 2.8% to $72.03 a barrel, while the world benchmark Brent low contract dropped 1.6% to $78.39 a barrel.

US natural gasoline shares fell 87 billion cubic ft in the week ended Dec. 22 following an an analogous decline in the old week and a better topple than a seventy 9 billion decrease expected in a seek compiled by Bloomberg.

Henry Hub natural gasoline futures jumped 5.3% to $2.566 per 1 million BTU.

In company news, Bloom Energy (BE) entered into a collaboration with SK Ecoplant, a subsidiary of South Korean conglomerate SK Team, on a hydrogen challenge developed by Korea Southern Energy, the companies said slack Wednesday. Bloom shares fell 0.4%.

Tellurian (TELL) shares tumbled 8.6% after the firm agreed to field 47.9 million shares to an unnamed institutional investor in replace for retiring $37.9 million of the $250 million 10% senior secured notes due 2025 beforehand issued to the investor.

ProFrac (AC DC) said it accomplished the refinancing of its senior secured term loan and other debt with two modern financing instruments totaling $885 million and maturing in 2029. Its shares rose 0.8%.

New Fortress Energy (NFE) fell 0.5% after the firm said slack Wednesday it agreed to have a 1.6 gigawatt ability reserve contract from Ceiba Energy.

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