SECTOR COMMENTARY

Energy stocks closed lower, underperforming the broader markets, which once again fell due to anxiety over the U.S. budget situation. The sell off accelerated in the final hour as sources said that President Obama was not going to propose a new plan to solve the standoff during today's meeting. Integrateds fared the worst, while the drillers were the best relative performers.

Money managers raised their net long U.S. crude futures and options positions in the week to December 24, the CFTC said. The speculator group raises its combined ...