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Sector Update: Energy

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Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index decreasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.1%.

The Philadelphia Oil Service Sector Index was down 0.7%, and the Dow Jones US Utilities Index was falling 1.1%.

Front-month West Texas Intermediate crude oil was declining 0.4% to $101.81 a barrel, and the global benchmark Brent crude contract was dropping 1.4% to $106.24 a barrel. Henry Hub natural gas futures rose 0.9% to $2.87 per 1 million BTU.

In corporate news, BP (BP) has stopped contract discussions with the US steelworkers' union after the lockout of over 800 employees at its Whiting, Indiana, facility, Reuters reported, citing a statement from the union. BP shares were down 0.4%.

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Sector Update: Energy Stocks Decline Late Afternoon

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