Sector Update: Energy

Last Updated: Friday, September 30, 2022 3:42 PM | MT Newswires

Energy stocks turned moderately lower this afternoon, with the NYSE Energy Sector Index down 0.5% and the SPDR Energy Select Sector ETF (XLE) sinking 0.6%. West Texas Intermediate crude oil settled $1.38 lower at $79.85 per barrel while Henry Hub natural gas futures fell $0.05 to $6.82 per 1 million BTU.

In company news, Oceaneering International (OII) was slipping 1.4% in late trading after the company said its Marine Services Division secured a $24.1 million cost-plus-fixed-fee and cost-only modification to an existing contract with the US Navy.

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