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NASDAQ OMX: January 8 Energy Commentary

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Thomson Reuters
January 8, 2014

SECTOR COMMENTARY

Oil and gas stocks underperformed the broader markets with services and drillers leading the space lower. RBC Capital lowered estimates on the group believing offshore drilling remains the most challenged subsector in oilfield services due to a lack of fundamental momentum.WTI closed at $92.33 down $1.34 or 1.43% after government data showed large builds in crude stockpiles at the U.S. benchmark delivery point. A stronger U.S. dollar also weighed on crude prices as the U.S. dollar index rose to the highest level since late November. Brent crude erased ...


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