Energy stocks suffer broad weakness, even as crude and natural gas futures rise

The energy sector was taking a broad beating in afternoon trading Tuesday, to pace the S&P 500 sector decliners, even as crude oil and natural gas futures gained ground. The SPDR Energy Select Sector ETF slumped 1.8% with 22 of 23 equity components losing ground, led by the 4.2% drop in APA Corp.’s stock , the 3.7% selloff in shares of Baker Hughes Co. and the 2.6% decline in Occidental Petroleum Corp. shares. Of the most active components, shares of Exxon Mobil Corp. slid 2.4% and Marathon Oil Corp. gave up 2.0%. The sector tracker’s lone non-loser was Devon Energy Corp.’s stock , which was little changed. The energy ETF has now lost 5.5% since closing a 15-month high on May 17. Meanwhile, crude oil futures gained 0.1% and natural gas futures rose 0.9%, while the S&P 500 slipped 0.2%.

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