Top Energy Companies
Energy stocks are lower as reports of likely downgrades of
European sovereign debt diminished expectations of future economic
growth. At last look, the NYSE Energy Sector Index is down -0.91%
Crude oil also is lower, extending its losses following a 1.2%
slump yesterday that followed reports European officials will
postpone an embargo of Iranian oil for at least six months.
In company news, Patriot Coal (
) is lower after saying it plans to reduce production of
metalurgical coal in response to weaker demand. The warning also is
pressuring other coal stocks, including Alpha Natural Resources (
), Arch Coal (
), Peabody (
), and James River Coal (
Linn Energy (LINE) is lower after pricing 17 million units of
limited liability company interests at $35.95 each.
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