Sector Update: Energy

Last Updated: Thursday, January 20, 2022 3:18 PM | MT Newswires

Energy stocks backed away from their prior intra-day highs this afternoon, with the NYSE Energy Sector Index climbing 0.3% and the SPDR Energy Select Sector ETF (XLE) up 0.7%. The Philadelphia Oil-Service Sector index was posting a 0.8% gain and the Dow Jones US Utilities Index also was ahead 1.0% in late trade. West Texas Intermediate crude oil settled $0.25 lower at $85.55 per barrel, while Henry Hub natural gas futures dropped $0.22 to $3.81 per 1 million BTU. In company news, EOG Resources (EOG) increased 0.5% after KeyBanc raised its price target for the energy producer by $2 to $110 a share and also reiterated its overweight rating for the company's stock.

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