Sector Update: Energy Stocks Decline Thursday Afternoon

01:53 PM EDT, 10/22/2026 (MT Newswires) -- Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index falling 1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.3%. The Philadelphia Oil Service Sector Index dropped 3.8%, and the Dow Jones US Utilities Index was adding 1.2%. In geopolitical news, Iran's Islamic Revolutionary Guard Corps said renewed attacks by the US could prompt Tehran to invade neighboring countries and hit bases used in US military operations as part of its new "offensive" strategy, Al Jazeera, a Middle Eastern broadcaster, reported. Front-month West Texas Intermediate crude oil rose 2.1% to $99.20 a barrel, and the global benchmark Brent crude contract climbed up 3.2% to $112.25 a barrel. Henry Hub natural gas futures added 1.2% to $2.82 per 1 million BTU. In sector news, US natural gas stocks rose by 77 billion cubic feet in the week ended Oct. 16, smaller than the 81 billion gain expected in a survey compiled by Bloomberg and following an increase of 67 billion cubic feet in the previous week. In corporate news, Infineum, a UK-based chemicals group co-owned by Shell (SHEL) and Exxon Mobil (XOM), is exploring an $8 billion sale, the Financial Times reported. Shell shares were up 0.3%, and Exxon was down 0.5%. PG&E (PCG) shares fell 2.7% after the firm reported lower Q3 results, with adjusted earnings meeting market expectations and revenue missing the consensus forecast. Eni (E) is in early-stage talks with XRG, the international investment arm of Abu Dhabi National Oil, on a potential sale of a stake in its oil and gas business in Libya, Reuters reported. Eni shares edged up 0.1%.