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NASDAQ OMX: January 2 Energy Commentary

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Thomson Reuters
January 2, 2014

SECTOR COMMENTARY

Oil and gas stocks closed lower along with the broader markets with Wall Street starting negative for the first time since 2008 despite another set of better-than-expected economic reports.

WTI closed at $95.44 down $2.98 or 3.03% and Brent fell roughly 3% as Libya prepared to restart a major oilfield and on speculation of a sharp rise in crude stockpiles in Cushing, Oklahoma. Libya's National Oil Corp. said on Thursday it plans to restart the El Sharara oilfield and hopes to resume output within days after protesters agreed ...


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