The Origin Energy Ltd (ASX: ORG) share price is down 1% this afternoon.
Shares of the integrated energy company currently trade for $6.325 each after closing yesterday at $6.39 apiece.
Other ASX energy shares are in the red today too, including Woodside Energy Group Ltd (ASX: WDS), down 3.81% to $34.505 per share, and Santos Limited (ASX: STO), down 0.88% to $7.90 per share.
Meanwhile, energy is today's worst-performing sector of the ASX, with the S&P/ASX 200 Energy Index (ASX: XEJ) down 2.5%. The S&P/ASX 200 Index (ASX: XJO) is also down 0.23% at the time of writing.
There's no news today to support the Origin Energy share price dip, but some broader developments seem to be impacting the Australian energy sector and global equity markets.
Let's investigate what's happened.
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What's going on with the Origin Energy share price?
ASX energy shares have been hit by headwinds blowing in several directions.
The prices of key commodities such as oil continue to fall. Meanwhile, the general sentiment of investors has dimmed due to the threat of an impending recession, as originally reported by the Australian Broadcasting Corporation.
The Brent crude oil price closed 5.5% lower today at US$99.31 per barrel, according to Nasdaq. Meanwhile, the WTI crude oil price also fell 5.54% to US$91.64 per barrel. This could be challenging the prices of ASX energy shares this afternoon.
The S&P 500 Index (SPX: INDEX) also closed lower overnight, down 1.1%. Investors could also be holding back as they wait for positive signals from the US economy that it has made a soft landing amid interest rate hikes to curb inflation.
Origin Energy share price snapshot
The Origin Energy share price is up 20% year to date. The benchmark ASX 200 Index is down around 8% over the same period.
The company's market capitalisation is $11.01 billion.
