Sector Update: Energy

Last Updated: Wednesday, December 7, 2022 3:37 PM | MT Newswires

Energy stocks were ending moderately lower Wednesday afternoon, with the NYSE Energy Sector Index dropping 0.5% while the SPDR Energy Select Sector ETF (XLE) was down 0.4%.

West Texas Intermediate crude oil settled $2.24 lower at $72.01 per barrel while Henry Hub natural gas futures rose $0.25 to $5.72 per 1 million BTU.

In company news, TotalEnergies (TTE) fell 1.5% on Wednesday. The French energy major reportedly expects to bury almost one million tons of carbon dioxide annually at its Papua liquified natural gas project in Papua New Guinea.

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