Energy majors were mixed in early trading Tuesday. West Texas Intermediate crude oil for August delivery was up $0.07 at $59.65 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude September contract gained $0.09 to $66.57 per barrel and August natural gas futures were 7 cents lower at $2.34 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was up 1.06%, while the United States Natural Gas fund was 2.80% lower.
Moving stocks include:
(+) Taronis Technologies (TRNX), which was surging more than 31% after saying it successfully completed a commercial pilot for its water decontamination technology for the remediation of cyanobacteria. The company also recently announced plans to spin off its wholly-owned subsidiary, Taronis Fuels Inc., which operate its US industrial gas and welding supply retail business MagneGas Welding Supply.
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In other sector news:
(-) Chevron (CVX) has submitted a request to the British Columbia Environmental Assessment Office to change its original design plan for its Kitimat liquefied natural gas (LNG) export facility in the province to all-electric and powered by hydroelectricity, reports said. Chevron was marginally lower at the open.
(=) Energy Transfer LP (ET) is considering selling its one-third state in the Rover pipeline, according to Bloomberg, citing people familiar with the situation. A sale could fetch as much as $2.5 billion, the story said. Energy Transfer was flat after the news.
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