NYMEX Benchmark Crude August: (-4.6%) to $91.02
Top Energy Stocks
Energy shares are sharply lower as the last hour of the regular
session gets underway as fear about slackening demand dominates
Light, sweet crude oil for August delivery finished down 4.6% to
$91.02 a barrel. In other energy futures, heating oil was down
5.68% to $2.78 a gallon while natural gas was down 2.73% to $4.19
per million British thermal units.
In energy ETFs, the United States Oil Fund (USO) is down 3.67%
to $35.74. The United States Natural Gas ETF (UNG) is down 2.74% at
In late-session energy news, shares of refiners are lower as the
International Energy Agency said this morning that it is releasing
60 million barrels of oil over the next month to ease the effects
of shortages from a decline in Libyan output, Barron's noted.
Refiners are lower, including Valero Energy (
), which is down 2.2%, or $0.53, to $24.41. CVX is down 3.3%. XOM
is down 3.1%. COP is down 2.1%.
Meanwhile, Orion Energy Systems (
) is reportedly initiated with an Outperform at Rodman &
Renshaw. The firm's price target is $6.
Orion Energy shares are up 2.3% to $4.