Sector Update: Energy Stocks Fall Late Afternoon
MT newswire2026/09/21 19:55Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
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03:55 PM EDT, 09/21/2026 (MT Newswires) -- Energy stocks declined late Monday afternoon with the NYSE Energy Sector Index falling 1.7% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.8%. The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index lost 0.5%. In geopolitical news, Iran and the US exchanged new threats on Sunday, although President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to be in New York this week for the UN General Assembly, according to Reuters. "Middle East oil flows remain surprisingly resilient despite the disruption to Saudi Arabia's East-West pipeline," Reuters cited JPMorgan analysts in a Friday note. "The most notable shift has come from Saudi Arabia," the analysts said, noting that satellite data showed Saudi oil flows through the Strait of Hormuz averaged 2.9 million barrels per day over the past six days, compared with just 700,000 barrels per day in August. West Texas Intermediate crude oil fell 4.4% to $95.89 a barrel, and global benchmark Brent crude declined 3.2% to $100.51 a barrel. Henry Hub natural gas futures dropped 2.8% to $2.83 per 1 million BTU. In corporate news, Halliburton (HAL) said it has signed memorandums of understanding with Eneva and WESCA to support oil and gas sector development in Venezuela. Its shares were shedding 0.6%. Constellation Energy (CEG) has signed a 15-year contract to provide Toyota (TM) in North America with renewable energy certificates from a Texas solar project, the companies said Monday. Constellation shares rose 3.4%. TotalEnergies' (TTE) E&P New Ventures and PDVSA signed a memorandum of understanding on Saturday in Caracas, Venezuela, according to a same-day government statement translated via Google Translate. TotalEnergies shares were down 0.7%. ExxonMobil (XOM) refining upside may offset lost earnings from its Middle East exposure, and the company might continue making acquisitions, RBC Capital Markets said. Exxon shares were falling 3%.
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