Why These Energy Stocks are Losing This Week

In this article, we are going to discuss the energy stocks that are losing this week.

While the S&P energy index outperformed the overall S&P 500 last week, the booming LNG sector is experiencing downward pressure due to declining margins. Costs have increased with natural gas prices in the United States hovering just below the three-year high of almost $5.3/MMBtu reached last week, primarily due to rising demand from LNG plants and heating.

At the same time, LNG prices have also been pushed lower in big demand centers in Asia and Europe as the market prepares for a supply glut, especially from the United States. The bulk of this impact is felt in Europe, the major destination for American LNG, with benchmark European TTF gas prices currently hovering below 27 EUR/MWh, their lowest since April 2024.

Hence, the spread between Henry Hub and TTF prices has shrunk to around $4.7 per mmBtu, down from about $12 per mmBtu at the beginning of 2025 and at its lowest since April 2021, eroding profits for LNG exporters. With demand for natural gas expected to continue growing and more LNG export facilities coming online in the US in the coming months, these margins are at risk of declining further.

That said, American LNG exports continued to explode, hitting an all-time monthly high in November for the second straight month.

Our Methodology

To collect data for this article, we used several stock screeners to identify energy stocks that have fallen the most between December 3 and December 10, 2025. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked in descending order based on their share price decline during this period.

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10. Noble Corporation plc (NYSE:NE)

Share Price Decline Between Dec. 3 – Dec. 10: 6.16%

Noble Corporation plc (NYSE:NE) operates as an offshore drilling contractor in the oil and gas industry worldwide.

Noble Corporation plc (NYSE:NE) received a blow on December 10 when JPMorgan downgraded the stock from ‘Overweight’ to ‘Neutral’. However, the analyst raised NE’s price target from $31 to $33. The downgrade follows the firm’s adjustment of ratings in the oilfield services and equipment sector as part of its 2026 outlook. JPMorgan remains cautious about the sector due to reduced upstream spending amid the current low-price environment. The analyst expects companies with the most resilient earnings and growth prospects to be best positioned, whereas Noble has fallen below earnings estimates in each of its last five quarters.

In other news, Noble Corporation plc (NYSE:NE) announced on December 8 that it has signed deals to sell five jackup rigs to Borr Drilling and one jackup to Ocean Oilfield Drilling, for a combined value of $424 million. The divestment is part of a strategic move by the company as it turns into a ‘pureplay deepwater and ultra-harsh environment jackup operator’.