By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) -- Energy stocks fell Wednesday alongside a pullback in oil prices and the broader equities market, and ahead of weekly supply data from the Energy Information Administration.
The NYSE Arca Oil Index (XOI 1,106, -9.72, -0.87%) fell 0.6% to 1,108. The NYSE Arca Natural Gas Index (XNG 557.35, -0.70, -0.13%) dropped 0.3% to 557. The Philadelphia Oil Service Index (OSX 215.51, -1.45, -0.67%) subtracted 0.5% to 216.
The Dow Jones Industrial Average (INDU 10,934, -35.82, -0.33%) , hampered by renewed jitters over Greece's debt, fell 18 points. DJIA components Exxon Mobil (XOM 67.44, -0.46, -0.68%) and Chevron (CVX 77.53, -0.35, -0.45%) fell 0.3% and 0.2% respectively.
Meanwhile, crude futures dropped 15 cents to $86.69.
Among stocks in the spotlight, Massey Energy (MEE 46.47, -1.98, -4.09%) fell nearly 5% to $46.29 as hopes faded for finding four missing miners in Monday's blast that killed 25. Rescuers attempted to ventilate poison gas from the coal mine. See full story.
The Energy Information Administration will release data on U.S. petroleum inventories at 10:30 a.m. Eastern time.
Analysts polled by Platts expect an increase of 1.5 million barrels in crude supplies. They also project a decline of 1 million barrels in gasoline stocks and a drop of 1.5 million barrels in distillate stocks. Refinery utilization is seen rising 0.2 percentage point to 82.8%.
Total SA faces oil for food probe
Total SA (TOT 58.79, -0.80, -1.34%) said in its annual report released Tuesday that regulators have revived a probe into the oil major's role in the Iraq oil-for-food program during the reign of Saddam Hussein.
Total SA said a formal investigation was initiated on Feb. 27 by a French judge.
"The judge...contends that Total bribed Iraqi public officials in order to purchase oil in violation of the embargo," Total said. "There is nothing to support these allegations."
Peabody Coal (BTU 47.52, +1.07, +2.30%) is facing rejection of its sweetened bid for Australian mining firm Macarthur Coal. Macarthur Coal plans to tie up with Gloucester. Shares of Peabody rose 0.8% to $46.84.
