Oil and gas stocks suffer a broad beating as crude oil, natural gas futures are hit hard
The energy sector took a broad beating in afternoon trading Tuesday, as crude oil and natural gas prices took sharp dives on the back of a surge in the U.S. dollar and continued fears that a recession would dampen demand. The SPDR Energy Select Sector ETF (XLE) tumbled 5.8% toward a more than four-month low, with all 21 of the equity components losing ground by more than 4%. The biggest decliners were shares of Halliburton Co. (HAL), which slumped 9.0%, and APA Corp. (APA), which dropped 8.5%. Among the more-active components,
(END) Dow Jones Newswires
July 05, 2022 13:41 ET (17:41 GMT)
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