Sector Update: Energy

Last Updated: Tuesday, December 6, 2022 1:18 PM | MT Newswires

Energy stocks were sharply lower this afternoon, with the NYSE Energy Sector Index falling 1.9% and the SPDR Energy Select Sector ETF (XLE) down 2.7%.

West Texas Intermediate crude oil was sinking $2.81 to $74.12 per barrel, while Henry Hub natural gas futures were $0.09 lower at $5.48 per 1 million BTU.

In company news, Matador Resources (MTDR) was sinking 2.4%, reversing a nearly 2% gain earlier Tuesday, after the oil and natural gas producer said it was increasing its quarterly dividend by 50% to $0.15 per share.

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