Sector Update: Energy

Last Updated: Monday, October 18, 2021 1:18 PM | MT Newswires

Energy stocks were moderately higher this afternoon, with the NYSE Energy Sector Index climbing 0.4% while the SPDR Energy Select Sector ETF (XLE) was up 0.3%. The Philadelphia Oil-Service Sector index was posting a 0.7% gain but the Dow Jones US Utilities Index was sinking 0.6%. Front-month West Texas Intermediate crude oil was falling $0.12 to $82.16 per barrel while Henry Hub natural gas futures were $0.27 lower at $5.14 per 1 million BTU. In company news, Peabody Energy (BTU) raced almost 19% higher amid a surge for coal producers Monday following reports Congressional Democrats may strip most green energy tax incentives from their economic and social safety net legislation in order to keep West Virginia Senator Joe Machin onboard with the massive government spending package.

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