COM - Energy shares lag as crude oil slips from near three-year highs

chinaface/E+ via Getty Images The S&P energy sector ([[XLE]] -3.4%), the best-performing group this year by a wide margin, is today's worst performer by a wide margin, as crude oil price pull back from their recent rise to their highest levels since October 2018. August WTI crude (CL1:COM) settled -1.5% to $72.91/bbl, and September Brent crude (CO1:COM) closed -1.6% to $74.14/bbl. Among notable movers: [[NOV]] -6%, [[HFC]] -5.5%, [[EOG]] -5.3%, [[VLO]] -5.3%, [[APA]] -5.2%, [[PSX]] -5.2%, [[HAL]] -5.1%, [[OXY]] -5.1%, [[MRO]] -4.9%, [[DVN]] -4.6%, [[SLB]] -4%. A key trading narrative today involves concerns over the spread of the Delta COVID-19 variant in Europe and Australia, and restrictions invoked in some countries. Also, OPEC+ ministers are expected to favor raising production at their Thursday meeting this week. An August quota increase of 500K bbl/day is the "most probable outcome" of the July 1 meeting, S&P Global Platts chief geopolitical advisor Paul

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Energy shares lag as crude oil slips from near three-year highs