Sector Update: Energy

Last Updated: Friday, September 30, 2022 1:16 PM | MT Newswires

Energy stocks were moderately higher this afternoon, with the NYSE Energy Sector Index and the SPDR Energy Select Sector ETF (XLE) both gaining 0.4%. West Texas Intermediate crude oil was sinking $1.44 to $79.79 per barrel while Henry Hub natural gas futures were $0.03 higher at $6.90 per 1 million BTU. In company news, Ecopetrol (EC) fell almost 1% after the Columbian energy major overnight said it drew down the entire $1.2 billion available through a credit facility with a group of international banks and will prepay more of a $3.67 billion loan coming due next August it used to fund last year's purchase of a 51.4% stake in the Interconexion Electrica hydro-electric utility.

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