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Business
See other Business Articles Title: Energy Stocks Clobbered By Falling Crude Prices
Source:
FNC
URL Source: http://www.foxbusiness.com/story/ma ... lobbered-falling-crude-prices/
Published: Jun 29, 2010
Author: Jim Jelter
Post Date: 2010-06-29 12:58:06 by Badeye
Keywords: None
Views: 1460
Comments: 2
Energy Stocks Clobbered By Falling Crude Prices | Respond to Editor | Print By Jim Jelter MarketWatch Pulse SAN FRANCISCO -- Oil and gas stocks tumbled at the open Tuesday as crude-oil prices shed as much as 3% of their value. Tropical Storm Alex veered farther to the west of the Gulf of Mexico's main production region, stripping out even more of the storm premium built into oil prices last week, while equities markets were in broad retreat on renewed concerns over China's continued ability to pull up the global economy. The NYSE Arca Oil Index was off 1.9% at 898.7 points in early trades while the NYSE Arca Natural Gas Index was down 2.5% at 492 and the Philadelphia Oil Service Sector Index was off 2.3% at 167.6 points. The August crude-oil futures contract was last down $2.62 at $75.63 a barrel in New York.
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