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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