Sector Update: Energy Stocks Higher Late Afternoon
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Energy stocks saw a rise late Tuesday, with the NYSE Energy Sector Index up 0.6%. However, crude oil futures fell sharply after Defense Secretary Pete Hegseth confirmed the Iran ceasefire remains in effect. Shell and Ineos Energy announced a joint investment in Gulf of Mexico exploration, while Diamondback Energy indicated potential rig additions in the Permian Basin. GE Vernova and Blue Energy are planning a new power facility in Texas, and Enlight Renewable Energy reported better-than-expected Q1 earnings, boosting its shares by 2.8%.
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