NYMEX Benchmark Crude September: (-6.4%) to $81.31
Top Energy Stocks
Energy shares are firmly lower in late trading as crude futures plunge on global economic fears in the wake of Standard & Poor's downgrade of U.S. debt.
Light, sweet crude oil for September delivery finished down 6.4% to $81.31 a barrel. In other energy futures, heating oil was up 1.19% to $2.92 a gallon while natural gas was up 0.05% to $3.94 per million British thermal units.
Oil majors also fell as Chevron ( CVX ) and Exxon (XOM) were each down over 4% on worries that the drop in crude prices and economic worries would hamper profits.
Earlier, Statoil (STO) today announced it has made a significant oil discovery in the North Sea.
The oil and gas company said a 65-meter oil column was found on the Aldous Major South prospect and data confirms the reservoir is of excellent quality.
ADRs of the company are down 7.9% to $20.29, as part of a broader-market downwards shift.
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.