NEW YORK (MarketWatch) -- Energy stocks swooned with the broad market Friday as woes about the economy and lower oil prices weighed on the sector, but oil, natural gas and oil services shares still managed to hold on to slim gains for the week.
The Amex Oil Index (XOI:1,420.75, -37.53, -2.6%) fell 2.6% to 1,421. For the week, the index inched 0.6% higher. For the month, it rose 3.7%.
VLO 57.77, -0.50, -0.9%) set plans to buy back up to $3 billion of its stock and spend $2.4 billion to expand capacity by 90,000 barrels per day at its Port Arthur, TX refinery. Despite the moves, Valero shares fell 50 cents to $57.77.
Exploration and production firm Canadian Natural Resources (CNQ:74.84, -2.50, -3.2%) fell 3.2% $74.84 after a downgrade to market perform from outperform at Raymond James.