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NASDAQ OMX: December 4 Energy Commentary

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Thomson Reuters
December 4, 2013

SECTOR COMMENTARY

Oil and gas stocks underperformed the broader markets with the refiners witnessing the biggest losses on the day as the Brent/WTI spread narrowed to $14.93 a barrel. Earlier in the session it touched a low of $14.57, shaving nearly $5 from the $19.41 gap set on Nov. 27 and notching the largest four-day decline in the spread since Oct. 2012.

Headlines from the Cowen Energy conference drove services to the downside today, highlighted by Baker Hughes’ weak update on its Q4 North America performance, pressured by severe weather ...


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