Sector Update: Energy

MT Newswires Live02:58

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index falling 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.4%.

The Philadelphia Oil Service Sector Index slumped 4.3%, and the Dow Jones US Utilities Index advanced 1%.

West Texas Intermediate crude oil fell 2.8% to $90.48 a barrel, and global benchmark Brent declined 2.1% to $93.06 a barrel. Henry Hub natural gas futures dropped 3.4% to $3.22 per 1 million BTU.

In corporate news, Southern (SO) filed on Friday a registration statement with the US Securities and Exchange Commission for the potential sale of securities from time to time. It said net proceeds from any future issuances will be used to repay maturing debt and fund general corporate purposes. Southern shares rose 1.7%.

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