Energy stocks moved into the red in early action Wednesday ahead of weekly inventory data. With supplies of petroleum expected to increase, crude prices retreated further from the $50 level, down $1.13 to $48.02. The price move knocked the wind out of energy stocks despite some modest gains in the broad market. Sector leader Exxon Mobil fell 30 cents to $68.41. Chevron dipped 50 cents to $67.90. The Amex Natural Gas Index dropped 1% to 355. The Amex Oil Index dropped 1.1% to 858.
