DC - Energy stocks slump in worst week since start of pandemic

Oil and gas stocks concluded their worst week since March 2020, amid fears that interest rate hikes from various central banks around the world could slow global demand. U.S. crude oil futures (CL1:COM) plunged 6.8% on Friday to close at $109.56/bbl in the biggest one-session drop since March 31, capping a 9.2% loss for the week, Brent crude futures (CO1:COM) fell 5.6% on Friday and 7.3% for the week to settle at $113.12/bbl, and Nymex RBOB gasoline (XB1:COM) slid 9.1% to $3.793/gal this week on concerns that high pump prices eventually will choke demand. U.S. natural gas (NG1:COM) sank 21.5% for the week, including 7% on Friday, to $6.944/MMBtu, closing below $7 for the first time since late April, after the Freeport LNG facility shut down due to a fire, which will severely slow U.S. export capacity at a time of rising demand in Europe. Once the current move lower

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Energy stocks slump in worst week since start of pandemic