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.
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