Energy shares fall with oil, lead S&P 500 declines

NEW YORK (Reuters) - Energy shares are among the biggest negatives on the Dow and S&P 500 on Monday, with oil prices falling more than $1 a barrel.

Shares of Exxon Mobil are down 1.4 percent, while shares of Chevron are down 1.3 percent, both leading declines on the Dow and S&P 500. The S&P energy index is down 1.6 percent, and the Arca oil and gas index is down 1.5 percent.

U.S. crude is down $1.20 a barrel on Monday, after recording on Friday its sixth weekly drop in seven.

Energy shares are down 3 percent so far in September.

The energy sector, however, is up 6.5 percent for the year so far, and had the second-highest earnings growth of the 10 S&P sectors for the second quarter, Thomson Reuters data shows. Second-quarter profit growth for the energy sector is up 16.4 percent from a year ago, second only to health care profit growth, at 18.6 percent, the data shows.

(Editing by Lisa Von Ahn, Chizu Nomiyama and Nick Zieminski)