Barefoot Investor: US Energy stocks fall as oil drops below $91

Energy stocks fell back on Thursday as the Dow Jones Industrial Average DJIA -1.48% dropped more than 100 points. The NYSE Arca Oil Index XX:XOI -2.98% dropped 2.7% to 1,202, wiping out its gain for the year. The NYSE Arca Natural Gas Index XX:XNG -2.26% fell 2.2% to 666. The Philadelphia Oil Service Index OSX -3.23% dropped 3.2% to 253. Crude oil futrues declined 1.1% to $90.95 a barrel. The Dow Jones Industrial Average dropped 143. points. (Market Watch)

1 comments

Kalpeshmaniar said... @ August 9, 2011 at 11:26 PM

S&P has downgraded US debt, this has created panic in the markets, but the question is should we take S&P seriously when these credit rating agencies have proved that their understanding about economies is indeed poor.

Remember, it is the same S&P that gave AAA rating to mortgage backed securities in 2005-2007 and we all know what happened after that, so I guess its time to be bullish when S&P, Goldman and the likes become bearish on the world. please visit http://www.kalpeshmaniar.com for accurate forecasting

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