Sector Update: Energy

MT newswire2026/09/14 19:45

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03:45 PM EDT, 09/14/2026 (MT Newswires) -- Energy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index decreasing 1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.2%. The Philadelphia Oil Service Sector Index was falling 4.1%, and the Dow Jones US Utilities Index was down 1.3%. Front-month West Texas Intermediate crude oil rose 1.2% to $101.21 a barrel, and the global benchmark Brent crude contract added 1% to $105.64 a barrel. Henry Hub natural gas futures added 1.7% to $2.88 per 1 million BTU. In corporate news, NextEra Energy (NEE) shares were down 0.6% after it said Monday it continues to expect 2026 adjusted earnings per share of $3.92 to $4.02 and is targeting the high end of that range.

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According to Fitch's latest report, the default rate for US private credit, tracking 1,300 borrowers, rose to 6.3% by the end of August over the past 12 months, surpassing the previous record high of 6.1% in July. Default rates in the healthcare, industrial, and manufacturing sectors all reached 9.9%, while the technology software sector defied the trend and fell to 0.6%. Although concerns about AI disruption have put pressure on the software industry, they have not yet had a substantive impact on the sector's credit quality.

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