Sector Update: Energy

Last Updated: Friday, January 21, 2022 12:52 PM | MT Newswires

Energy stocks were losing more ground this afternoon, with the NYSE Energy Sector Index falling 1.5% while the SPDR Energy Select Sector ETF (XLE) was down 1.4%. The Philadelphia Oil-Service Sector index also was posting a 2.0% decline but the Dow Jones US Utilities Index was climbing 0.3%. Front-month West Texas Intermediate crude oil was slipping $0.38 to $85.17 per barrel while Henry Hub natural gas futures were $0.20 higher at $4.00 per 1 million BTU. In company news, Callon Petroleum (CPE) fell 3.8% after JPMorgan Friday cut its stock rating for the energy producer to underweight from neutral and assigned a $62 price target for Callon shares.

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