Sector Update: Energy

Last Updated: Friday, January 14, 2022 3:35 PM | MT Newswires

Energy stocks extended their Friday advance this afternoon, with the NYSE Energy Sector Index climbing 1.9% and the SPDR Energy Select Sector ETF (XLE) up 2.1%. The Philadelphia Oil-Service Sector index was posting a 3.6% gain although the Dow Jones US Utilities Index was sinking 0.6% in late trade. Front-month West Texas Intermediate crude oil settled $1.70 to $83.82 per barrel, while Henry Hub natural gas futures fell $0.01 to $4.26 per 1 million BTU. In company news, Meta Materials (MMAT) was rising 1% after Friday saying it expects to complete the spinout of its oil operations in March, subject to meeting any remaining legal requirements and process approvals.

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