Energy stocks fell late Monday afternoon, with the NYSE Energy Sector Index dropping 2.4% and the Energy Select Sector SPDR Fund (XLE) falling 0.9%.
The Philadelphia Oil Service Sector Index shed 0.4%, and the Dow Jones US Utilities Index was sliding 1.4%.
West Texas Intermediate crude oil fell 1.5% to $61.05 a barrel, and global benchmark Brent dropped 1.6% to $64.45 a barrel. Henry Hub natural gas futures slumped 5.2% to $3.64 per 1 million BTU.
In corporate news, SUNation Energy (SUNE) shares slumped 76%. The company closed the final tranche of its sale of almost 4.35 million shares and related warrants to some institutional investors, raising $5 million.
Shell (SHEL) shares fell 3.4%. The firm lowered its Q1 liquefied natural gas production outlook to a range of 6.4 million to 6.8 million metric tons from 6.6 million to 7.2 million metric tons previously, citing weather impact and unplanned maintenance in Australia.
Woodside (WDS) shares were down 1.4% after the company said it has agreed to sell a 40% interest in its Louisiana LNG Infrastructure business to Stonepeak.
VivoPower (VVPR) shares rose 4.8%. The company said Monday that the proposed $180 million all-cash takeover offer process from Abu Dhabi-headquartered Energi is progressing to the due diligence stage.
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