Sector Update: Energy

MT Newswires Live03:41

Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index falling 1.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.

The Philadelphia Oil Service Sector Index was up 0.9%, and the Dow Jones US Utilities Index was increasing 0.6%.

Front-month West Texas Intermediate crude oil fell 2.1% to $99.65 a barrel, and the global benchmark Brent crude contract shed 1.8% to $113.73 a barrel. Henry Hub natural gas futures rose 4.3% to $2.72 per 1 million BTU.

In corporate news, Constellation Energy (CEG) shares rose 2.8% after it said Tuesday it has secured a conditional loan commitment of up to $5 billion from the US Department of Energy for nuclear uprates across some company facilities.

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