MW; Energy stocks fall into the red with oil prices
Energy stocks fell with the broad market on Thursday as earnings updates from Occidental Petroleum and Smith International provided no lift to the sector. Crude prices fell $1.66 to $40.50 on continued bearishness about the economy. The Amex Oil Index fell 1.5% to 971. The Amex Natural Gas Index dropped 1.7% to 386. Exxon Mobil dropped 1.9% to $77.68 ahead of its earnings update on Friday. Smith International retreated 9% to $23.67. Occidental Petroleum dipped 1% to $58.76.
