Sector Update: Energy Stocks Softer Late Afternoon
MT newswire2026/10/07 19:5303:53 PM EDT, 10/07/2026 (MT Newswires) -- Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index down 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.5%. The Philadelphia Oil Service Sector Index was falling 1.7%, and the Dow Jones US Utilities Index was fractionally higher. Front-month West Texas Intermediate crude oil shed 0.7% to $88.86 a barrel, and the global benchmark Brent crude contract rose 0.4% to $100.93 a barrel. Henry Hub natural gas futures rose 2.9% to $3.20 per 1 million BTU. In sector news, Kalshi has filed a proposal with the Commodity Futures Trading Commission or CFTC for perpetual futures contract linked with the West Texas Intermediate benchmark, Bloomberg reported. The CFTC has 45 days to decide on the proposal, the report said. In corporate news, Hess Midstream (HESM) shares tumbled 14% after Chevron (CVX) said late Tuesday it will divest its ownership interests and general partner position in Hess, along with its DJ Basin crude oil midstream assets, in exchange for extended and improved Bakken midstream commercial terms and $200 million in cash. Chevron shares were down 0.9%. Equinor (EQNR) has updated the cost estimate for the Snohvit Future project in Norway to 26.5 billion Norwegian kroner ($2.78 billion) in 2026 value, up from just over 20 billion kroner in 2025 value, the company said Wednesday. Its shares were falling 2.9%. Black Hills (BKH) shares surged past 7%. The company said Tuesday it signed agreements to provide energy service to Alphabet's (GOOGL) Google's planned data center in Cheyenne, Wyoming, and plans to invest $1.8 billion in new natural gas generation. A BKV (BKV) subsidiary signed a contract for the supply of natural gas-fired power generation equipment that will be used at BKV's prospective power generation project in Texas, according to a statement. BKV shares jumped 7.3%. ConocoPhillips (COP) is likely to accelerate share repurchases as it works to catch up on its 2026 shareholder return commitment, with st
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US Stock Moving | Starbucks reportedly considering acquisition, Chipotle Mexican Grill (CMG.US) shares soar up to 8.6%
According to media reports citing sources familiar with the matter, Starbucks has been working with advisors in recent months to explore potential acquisition plans targeting the US-based Mexican-style restaurant chain Chipotle Mexican Grill.
BUZZ - Starbucks shares fall; reports said it once considered acquiring Chipotle Mexican Grill
On October 8, Starbucks (SBUX.O), the coffee chain brand, saw its stock price drop by as much as 6.66% to $87.35. According to sources cited by the Financial Times, the company had considered acquiring Chipotle Mexican Grill (CMG.N). The report states the progress of this acquisition plan remains unclear. Starbucks (SBUX) currently has a market value of about $39 billion. Chipotle’s (CMG) stock price surged as much as 8.55% to $33.40. Chipotle has not yet responded to a request for comment from Reuters. As of the close of the previous trading day, SBUX has risen about 10% so far this year, while CMG has dropped 12% year-to-date. (For the benefit of non-English speakers, Reuters has automated translation of its reports into several other languages. Since automated translations may occasionally be inaccurate or lack the intended context, Reuters does not guarantee the accuracy of these translations and provides them solely for convenience. Reuters accepts no responsibility for any damage or loss caused by the use of automated translation.)
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