--- title: "Energy Shares Edge Higher as Oil Pulls Back — Energy Roundup" type: "News" locale: "en" url: "https://longbridge.com/en/news/293800997.md" description: "Energy sector shares rose as oil prices retreated from highs but remained up due to Iran-US tensions. SLB reported Q2 revenue of $8.97 billion, beating estimates, with adjusted earnings of 55 cents per share, down from last year's $1.01 billion profit. Meanwhile, Lazard reports record electricity generation development costs have surged over 10% due to AI demand and supply chain issues, driving up consumer utility bills." datetime: "2026-07-24T21:43:54.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293800997.md) - [en](https://longbridge.com/en/news/293800997.md) - [zh-HK](https://longbridge.com/zh-HK/news/293800997.md) --- # Energy Shares Edge Higher as Oil Pulls Back — Energy Roundup Shares of companies in the energy sector edged up as oil prices retreated from Thursday's highs but still ended the week sharply higher on the escalation of fighting between Iran and the U.S. SLB logged higher revenue in 2Q, as higher offshore activity and strong demand across its quickly growing data-center business helped to offset continued disruptions across the Middle East. The oilfield-services company, formerly known as Schlumberger, on Friday posted a profit of $786 million, or 52 cents a share. That's down from a profit of $1.01 billion, or 74 cents a share, a year earlier. Stripping out certain one-time items, earnings came in at 55 cents a share. Analysts polled by FactSet expected adjusted earnings of 51 cents a share. Revenue rose 5% to $8.97 billion, ahead of Wall Street models for $8.67 billion. North America revenue jumped nearly 36%, to $2.24 billion, offsetting international revenue, which slipped 2.6%, to $6.67 billion. America has a record amount of electricity generation under development. Building it is becoming far more expensive. Surging demand for electricity from AI data centers-combined with equipment backlogs, permitting delays, tariffs and yearslong waits to connect to the grid-are pushing up construction costs for every type of power plant. Costs for building natural-gas plants and large-scale solar and wind projects have increased more than 10% since last year, according to Lazard's annual report on electricity-generation costs. That poses a growing problem for consumers already frustrated by rising electricity bills. The higher cost of building power plants today will eventually work its way into monthly utility bills as companies recover those investments over time. Electricity prices rose 4% in June from a year earlier, according to the Bureau of Labor Statistics, outpacing overall inflation. Demand growth is "dominating everything in energy," said George Bilicic, Lazard's vice chairman of investment banking and global head of power, energy and infrastructure. Write to Patrick Sheridan at patrick.sheridan@wsj.com (END) Dow Jones Newswires July 24, 2026 17:27 ET (21:27 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### Related Stocks - [LAZ.US](https://longbridge.com/en/quote/LAZ.US.md) - [SLB.US](https://longbridge.com/en/quote/SLB.US.md) - [OILD.US](https://longbridge.com/en/quote/OILD.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [OILU.US](https://longbridge.com/en/quote/OILU.US.md) - [DIG.US](https://longbridge.com/en/quote/DIG.US.md) - [USOI.US](https://longbridge.com/en/quote/USOI.US.md) - [SCO.US](https://longbridge.com/en/quote/SCO.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [NRGU.US](https://longbridge.com/en/quote/NRGU.US.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [GUSH.US](https://longbridge.com/en/quote/GUSH.US.md) - [DRIP.US](https://longbridge.com/en/quote/DRIP.US.md) - [FDS.US](https://longbridge.com/en/quote/FDS.US.md) ## Related News & Research - [WRAPUP 1-Oil price rises after Iran says it stops ships in Hormuz](https://longbridge.com/en/news/294534351.md) - [Exxon Mobil Misses Profit Mark After Refinery Maintenance Blunts Oil Price Windfall](https://longbridge.com/en/news/294516721.md) - [Uniper selects SLB Capturi carbon capture technology for UK low-carbon power project](https://longbridge.com/en/news/294100275.md) - [TREASURIES-Yields climb, set for monthly gains on Iran war, Fed uncertainty](https://longbridge.com/en/news/294532207.md) - [GRAPHIC-Take Five: A crude summer](https://longbridge.com/en/news/293896829.md)