Energy stocks dip as Houthi strikes hit Saudi infrastructure

Yemen's Iran-aligned Houthi rebels reported launching multiple attacks on Saudi Arabian energy, airport, and military sites, according to Reuters. Saudi officials have not yet confirmed the claims. The NYSE Energy Sector Index slipped 0.1% while the State Street Energy Select Sector SPDR ETF (XLE) lost 0.2% in Tuesday afternoon trading. The Philadelphia Oil Service Sector Index gained 0.4% and the Dow Jones US Utilities Index rose 1.3%.

Crude oil prices retreated slightly. West Texas Intermediate front-month futures traded at $103.55 per barrel, a 0.1% drop, while Brent crude fell 0.8% to $108.72 per barrel. Henry Hub natural gas contracts dropped 2.9% to $2.97 per 1 million BTU.

Corporate news produced mixed results for the sector. Halliburton (HAL) shares climbed 1.9% on higher third-quarter adjusted net income and revenue. Deep Fission (FISN) signed a 25-year power purchase agreement with the Great Plains Development Authority to serve a Kansas industrial park housing its nuclear reactor project, yet its stock fell 15%. Eni (E) began start-up activities for the Meleiha phase 2 project in Egypt's Western Desert via Agiba Petroleum and the state-owned Egyptian General Petroleum; Eni shares declined 0.1%.