Sector Update: Energy

Last Updated: Tuesday, December 6, 2022 3:40 PM | MT Newswires

Energy stocks extended their declines Tuesday afternoon, with the NYSE Energy Sector Index falling 2.5% while the SPDR Energy Select Sector ETF (XLE) was down 3.1%.

West Texas Intermediate crude oil settled $2.68 lower at $74.25 per barrel while Henry Hub natural gas futures fell $0.11 to $5.47 per 1 million BTU.

In company news, Energy Transfer (ET) declined 2.1% after the natural gas pipeline and storage company late Monday priced a $1 billion public offering of its 5.550% senior notes maturing in 2028 at 99.974% of their face value as well as $1.5 billion of its 5.750% senior notes due 2033 at 99.891% of their face value.

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