The Santos Ltd (ASX: STO) share price is having a rough start to the week despite oil prices rising.
While there's no obvious reason behind the ASX 200 oil and gas producer's slip, its stock might be being weighed down by its home sector on Monday.
At the time of writing, the Santos share price is $8.18, 0.79% lower than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) has lifted 0.87% today.
Let's look closer at what might be going on with the energy stock on Monday.
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Santos share price dips on Monday
The Santos share price is slipping despite oil prices reaching a two-month high on Friday.
And in what's likely good news for ASX energy fans, demand for the commodity is expected to continue, according to CommSec.
The price of Brent crude oil rose 1.7% to US$119.43 a barrel on Friday. Meanwhile, the US Nymex crude oil price lifted 0.9% to US$115.07 per barrel.
Despite the rising price of the black liquid, both the Santos share price and the S&P/ASX 200 Energy Index (ASX: XEJ) are slumping today. In fact, the index is one of only two trading in the red at the time of writing.
The energy sector is currently down 0.31%, with Santos coming in as its fifth biggest weight.
The stock is outperforming that of Viva Energy Group Ltd (ASX: VEA), Whitehaven Coal Ltd (ASX: WHC), Ampol Ltd (ASX: ALD), and Beach Energy Ltd (ASX: BPT).
Fortunately, the Santos share price has a long way to fall before it hits the long-term red.
It has gained nearly 24% since the start of 2022. It's also nearly 21% higher than it was this time last year.
