Top Energy Stocks
Energy stocks were sharply lower Thursday, with the NYSE Energy Sector Index falling 3.4%, while shares of energy companies in the S&P 500 were down 3.4% as a group. West Texas Intermediate crude oil for January delivery was falling $1.68 to $51.21 per barrel at the New York Mercantile Exchange, while the global benchmark Brent crude January contract was declining $2 to $59.56 per barrel. January natural gas futures were 11 cents lower at $4.36 per 1 million BTU. Among energy-related ETFs, United States Oil was slipping 3.2%, while United States Natural Gas was dropping 2.9%. The Philadelphia Oil Service Sector index was down 5.5%.
Among energy stocks moving on news:
(-) Patterson-UTI Energy ( PTEN ) fell to a nearly 10-year low, falling as low as $12.55. The oilfield-services firm said it operated an average of 185 drill rigs during November, an increase of four rigs over its October average.
In other sector news:
(-) Honeywell ( HON ) was down 3% on Thursday. Honeywell said that the State Oil Company of Azerbaijan Republic plans to use Honeywell UOP's pressure swing adsorption technology to supply hydrogen as part of modernization efforts at the Heydar Aliyev Oil Refinery in Baku.
(-) Kinder Morgan ( KMI ) dropped 3% on Thursday after S&P Global Platts reported that the company is sticking to its projected timeline for the liquefied natural gas export terminal it is constructing in Georgia's Elba Island.
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