Energy stocks closed lower Monday with the NYSE Energy Sector Index falling 2.5% and the SPDR Energy Select Sector ETF (XLE) was down 3.1%. Front-month West Texas Intermediate crude oil was down $1.12 to $70.85 per barrel. In company news,
Laredo Petroleum (LPI) struck a deal to acquire about 20,000 net acres in western Glasscock County from Pioneer Natural Resources (PXD) for about $230 million. Laredo shares were down 1.9% while Pioneer dropped almost 5%.