Energy regains some ground Monday as natural gas squeezes 6% into the close
cagkansayin/iStock via Getty Images


After falling nearly $7.00/b in Monday trading, Brent oil (CO1:COM) closed down ~$3.00/b, and back above ~$100; natural gas prices were up as much as ~6% Monday, and over $7.00/mmbtu, at the US equity market close.
Service names like Schlumberger (SLB) and Baker (BKR) recovered from near double-digit losses, as the service index (OIH) bounced ~3% in afternoon trading.
Natural gas names outperformed the broader energy sector; however, even EQT (EQT) and Range (RRC) closed in the red, despite the rally in natural gas prices (UNG).
With Valero (VLO) set to kick off refinery earnings season Tuesday morning, shares of refiners closed lower on the day, as natural resource investors looked to reduce earnings risk following a difficult week of Q1 mining reports (FCX) (AA).
Exxon (XOM) and Chevron (CVX) are likely to set the tone for energy earnings Friday; however, for the time being, the sector appears to be bouncing around on mixed commodity headlines.