Energy stocks are down in noon trading, in tandem with modestly declining oil pries.
Light sweet crude oil for February delivery was off about 2% at just under $100 a barrel. Analysts attribute the correction, which follows six straight days of gains, to reduced concern over Iran's threat to curb oil production, coupled with weakening demand for commodities.
In energy ETFs, the United States Oil Fund ( USO ) was down 1.6%, at $38.43 while the United States Natural Gas Fund ( UNG ) was up 0.3%, at $6.85.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
