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Thursday's Energy Stocks: Markets, sector close post-holiday trading with gains

Markets recorded gains in post-holiday trading on Thursday, July 5, with the Dow Jones Industrial Average settling 0.75% higher to 24,356.74, and the S&P 500 closing up 0.86% to 2,736.61.

China warned that U.S. tariffs on $34 billion of China's exports would not only hurt China but the U.S. and the rest of the world, according to a Bloomberg News report. Also, U.S. President Donald Trump again accused OPEC of driving gas prices higher and demanded lower prices in return for the security ties the oil group members enjoy with the U.S., the Financial Times reported July 5. Later on July 5, Scott Pruitt resigned as head of the U.S. Environmental Protection Agency. The S&P 500 Energy Sector dipped 0.16% to 555.97.

Enbridge Inc. shares dropped 0.26% in slightly below-average trading to finish at $35.10, a trading day after the company announced that it will sell its Canadian natural gas gathering and processing business in British Columbia and Alberta to investment manager Brookfield Infrastructure Partners LP for C$4.31 billion. The deal garnered applause from analysts as the energy pipeline giant transforms into a pure-play regulated business.

Cheniere Energy Inc. shed 0.34% in above-average trading to close at $64.78, after its subsidiary Corpus Christi Liquefaction LLC received approval to introduce natural gas and commission the fuel gas system of its LNG export facility's first liquefaction train.

Among other midstream companies, Williams Partners LP gained 1.56% to $41.13; ONEOK Inc. earned 1.30% to $70.23; and Antero Midstream Partners LP rose 1.83% to $29.99, all in light trading.

The Alerian MLP Index moved up 0.28% to 262.56.

Among major oil and gas players, Marathon Oil Corp. declined 2.68% on below-average volume to finish at $20.70; Pioneer Natural Resources Co. shed 1.54% in light trading to close at $183.33; and Chevron Corp. lost 0.60% in below-average trading to end at $123.98. Chevron is looking to shed several of its North Sea oil and gas fields in the United Kingdom.

Among utilities, PPL Corp. shares lifted 1.45% in brisk trading to settle at $29.46; Edison International added 1.40% on average volume to close at $65.28; and DTE Energy Co. climbed 1.25% on average volume to finish at $106.33. The S&P 500 Utilities Sector saw an increase of 0.63% to close at 267.74.

Market prices and index values are current as of the time of publication and are subject to change.