COM - Energy stocks on track for worst week since March 2020 on rising recession fears

Oil and gas stocks add to recent losses as U.S. crude oil plunges 6% on Friday, as interest rate hikes from major central banks around the world spark concerns about a sharp economic slowdown. Comex July WTI crude oil (CL1:COM) -5.7% at $110.83/bbl, while August Brent crude (CO1:COM) -5% at $113.82/bbl. Energy (XLE) is the worst performing sector on the S&P 500 Index, -5.7% while the broader market inches higher. Diamondback Energy (FANG) -9.3%, making it the day's worst performing S&P 500 stock, with Devon Energy (DVN) -8.9%, Marathon Oil (MRO) -8.3%, ConocoPhillips (COP) -7.9% and Pioneer Natural Resources (PXD) -8%. The SPDR S&P Energy Select ETF has shed 15% this week and on pace for its worst weekly decline since March 2020, and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is on pace to fall for an eighth straight session. Other relevant ETFs include (USO), (VDE),

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Energy stocks on track for worst week since March 2020 on rising recession fears