Energy sector ETFs fall, pressured by equipment companies

The S&P energy sector fell on Thursday, bucking the advance of the broader market as crude-oil prices fell. The Energy Select Sector SPDR ETF , the most widely used exchange-traded fund to track the sector, fell 0.8%, extending its recent decline. The ETF is down 9.3% thus far this month, the biggest loser among SPDR sector funds. Over the past 12 month, the sector is down 7.4%, which also stands as the worst 12-month performance among the primary S&P 500 sectors. Crude oil prices were down 0.7%, while Brent crude lost 1.7%. Among specific sub-sectors of the energy industry, oil and gas equipment companies led the decline. The SPDR S&P Oil & Gas Equipment & Services ETF fell 1.9%, with nearly all the fund’s components in lower territory. Among the most notable decliners, Helmerich & Payne Inc. fell 2.3% while Nabors Industries Ltd. was down 4.1% and Halliburton Co. was down 2.1%. Separately, the SPDR S&P Oil & Gas Exploration & Production ETF fell 1.4%. Marathon Oil Corp. fell 6.7% while Newfield Exploration Co. slid 5.1%.

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From:: Stock Market News

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