RTTN: Natural Gas Stocks Lower Amid Volatile Session
(RTTNews) - Natural gas stocks are under pressure during late morning trading on Monday, amid a volatile day in the stock markets thus far.
The weakness among natural gas stocks is reflected by the 1 percent loss currently being shown by the NYSE Arca Natural Gas Index. With the retreat, the index is on pace for a two and a half week closing low.
A decrease by the price of natural gas is contributing to the weakness in the sector, with natural gas for July delivery currently down $0.111 at $4.75 per million BTUs.
EOG Resources, Inc. (EOG) is one of the sector's worst performers, sliding by 2.7 percent, although it remains rangebound.
Apache Corp. (APA) and Chesapeake Energy (CHK) are also weighing on the sector, slipping by 1.7 percent and 1.8 percent, respectively. The decline has the stocks poised to close at their lowest prices in nearly a month's time.
Selling pressure is also evident among shares of Williams Companies Inc. (WMB), Southwestern Energy Co. (SWN) and Ultra Petroleum Corp. (UPL).
Meanwhile, Nicor Inc. (GAS) and Anadarko Petroleum Corp. (APC) are bucking the downtrend in the sector.
