Anadarko, Nabors up as energy stocks rise
NEW YORK (MarketWatch) -- Energy stocks rose on a triple-digit advance from the Dow Jones Industrial Average and higher natural gas prices on Wednesday, with Anadarko Petroleum and
The companies are components of the Dow Jones Industrial Average (DJIA) , which rose 103 points by the closing bell.
The
Among them, Nabors Industries (NBR) rose 2.7% and oil well services firm
Natural gas producers tapped into a 4% increase in natural gas futures to $2.90 per million British thermal units.
MDA EarthSat forecast more intense heat in the Midwest and East in the next week to week and a half. The hot weather is expected to increase demand for electricity, used to power air-cooling equipment, produced from natural gas-powered generators.
In major benchmarks in the energy sector, the NYSE Arca Oil Index (XOI) rose 0.7%, the NYSE Arca Natural Gas Index (XNG) advanced 0.6% and the Philadelphia Oil Service Index (OSX) moved up by 1.4%.
Among stocks in the spotlight,
Bloomberg News reported
Shell bowed out of bidding for
,
,
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