Sector Update: Energy

Last Updated: Friday, November 26, 2021 12:42 PM | MT Newswires

Energy stocks were sharply lower this afternoon, with the NYSE Energy Sector Index falling 4.6% while the SPDR Energy Select Sector ETF (XLE) was down 4.2%. The Philadelphia Oil-Service Sector index was posting a 6.0% decline and the Dow Jones US Utilities Index was sinking 1.4%. Front-month West Texas Intermediate crude oil was sinking $9.22 to $69.17 per barrel while the global benchmark Brent crude contract also was plunging $8.45 to $73.77 per barrel. Henry Hub natural gas futures were $0.22 higher/lower at $5.29 per 1 million BTU. In company news, Nordic American Tankers (NAT) fell 2.9% amid steeper declines for most energy companies Friday and the petroleum shipper saying Alexander Hansson, a Nordic American director and son of company founder, board chairman and CEO Herbjorn Hansson, bought 50,000 of the company's shares at $1.8564 apiece, boosting his direct stake in the company to nearly 1.04 million shares.

Share this article:

Related Companies

You May Also Like