Sector Update: Energy

Last Updated: Thursday, December 23, 2021 3:28 PM | MT Newswires

Energy stocks eased slightly from their prior gains this afternoon, with the NYSE Energy Sector Index climbing 0.6% in late trade while the SPDR Energy Select Sector ETF (XLE) was up 0.5%. The Philadelphia Oil-Service Sector index also was hanging on for a 0.2% gain, matching Thursday's advance for the Dow Jones US Utilities Index. Front-month West Texas Intermediate crude oil settled $1.03 higher at $73.79 per barrel while Henry Hub natural gas futures dropped almost $0.25 to $3.73 per 1 million BTU. In company news, Bowman Consulting Group (BWMN) was 2% higher after the engineering and infrastructure consulting company announced its purchase of 1519 Surveying, a privately held rival focused on the renewable energy segment.

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