Energy stocks fall, led by Halliburton, as crude oil futures set to snap longest win streak in 10 months

energy-stocks-fall,-led-by-halliburton,-as-crude-oil-futures-set-to-snap-longest-win-streak-in-10-months

Energy stocks were broadly lower in premarket trading Friday, as crude oil futures CL00, -2.00% dropped 1.9% to put them in danger of snapping a seven-day win streak. Halliburton Co.’s stock HAL, +0.48% traded down 2.4% ahead of the open, enough to make them the biggest premarket decliner among S&P 500 SPX, -0.26% components. Elsewhere, shares of Hess Corp. HES, +0.09% slid 1.3%, Occidental Petroleum Corp. OXY, +0.07% lost 1.0%, Exxon Mobil Corp. XOM, +0.66% slipped 0.4% and Chevron Corp. CVX, -0.07% was down 0.4%. Crude oil futures had soared 10.5% during its seven-day win streak through Thursday, which would be the longest such stretch since the eight-day streak ended Feb. 10. The SPDR Energy Select Sector ETF XLE, +0.25%, which declined 0.6% premarket, has run up 46.1% this year, while crude futures have hiked up 55.6% and the S&P 500 has advanced 27.2%.

Source: Marketwatch

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