Energy sector stocks were trading higher despite oil dropping more than 1 percent on Friday. Oil futures were trading lower after the surprise increase for a gauge of US manufacturing index, which rose to 55.3 in June, from 53.5 in May. In the broader sector, the NYSEArca Oil Index (XOI) gained 0.58 percent to 1,311.88, the NYSEArca Natural Gas Index (XNG) gained 0.64 percent to 679.35, and the Philadelphia Oil Service Index (OSX) added 0.27 percent to 268.78 on Friday. Among the stocks, ConocoPhillips (NYSE: COP) was trading higher by 0.25 percent to $75.38, Chevron Corp. (NYSE: CVX) gained 0.95 percent to $103.82, Exxon Mobil Corp. (NYSE: XOM) trading higher by 0.04 percent to $81.41, BP Plc is also trading higher by 0.07 percent to $44.32. Shares of UIL Holdings Corp. (NYSE: UIL) gained 0.96 percent to $32.66, and Northeast Utilities (NYSE: NU) added 1.11 percent to $35.56. Among the ETF’s, Energy Select Sector Fund ETF (NYSEArca: XLE) was trading higher by 0.66 percent to $75.82 and iShares Dow Jones US Energy ETF (NYSEArca: IYE) also gained 0.67 percent to $43.35 on Friday.
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