Sector Update: Energy Stocks, Crude Sink; Patriot Coal Pull-Back Cools Other Producers

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Top Energy Companies

XOM -0.67%

CVX -0.33%


COP -0.48%

SLB -2.00%

OXY -1.12%

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% at 12,425.34.

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 ( PCX ) 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 ( ANR ), Arch Coal ( ACI ), Peabody ( BTU ), and James River Coal ( JRCC ).

Linn Energy (LINE) is lower after pricing 17 million units of limited liability company interests at $35.95 each.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: ACI , ANR , BTU , JRCC , PCX

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100,376,898
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83,231,837
  • $25.62 ▲ 1.91%
75,739,329
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65,297,937
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59,053,093
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As of 12/19/2014, 04:15 PM


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