Energy stocks continued to lose ground Monday afternoon, with the NYSE Energy Sector Index falling 2.7% while the SPDR Energy Select Sector ETF (XLE) was down 3.2%.
West Texas Intermediate crude oil settled $3.05 lower at $76.93 per barrel while Henry Hub natural gas futures fell $0.70 to $5.58 per 1 million BTU.
In company news, Capstone Green Energy (CGRN) dropped 6.2%. The energy-as-a-service company announced a new two-year rental agreement for an 800-kilowatt microturbine system for an unnamed cryptocurrency data mining company in western Texas. The customer is also evaluating a 1-megawatt system for possible deployment early next year, Capstone said.