Sector Update: Energy

01:09 PM EST, 11/02/2026 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each dropping 3.1%. The Philadelphia Oil Service Sector Index was shedding 2.4%, and the Dow Jones US Utilities Index was up 0.3%. Front-month West Texas Intermediate crude oil fell 7.4% to $96.41 a barrel, and the global benchmark Brent crude contract dropped 7.8% to $104.55 a barrel. Henry Hub natural gas futures decreased 1.3% to $2.86 per 1 million BTU. In corporate news, Kosmos Energy (KOS) shares fell more than 13% after it reported Q3 results below market estimates and projected sequentially lower production for the current quarter.