BNO - Crude oil energy stocks slide as U.S. crude supplies rise
The energy sector (XLE -3%) sits at the bottom of today's S&P sector leaderboard as crude oil prices widened losses after the latest weekly inventory report from the EIA showed a much larger than expected build. Also, the Wall Street Journal reported that Iran's chief negotiator said his country will return to nuclear talks before the end of November, restoring the possibility of a revival of the 2015 nuclear deal. December WTI crude (CL1:COM) closed -2.4% to settle at $82.66/bbl, pulling back from a seven-year high, while January Brent (CO1:COM) finished -2.1% at $83.87/bbl. Among today's major movers: PSX -5.7%, HFC -5.4%, HES -4.6%, SLB -4.4%, VLO -4%, FTI -3.8%, MRO -3.4%, HAL -3.3%, MPC -3.2%, XOM -2.5%. ETFs: XLE, XOP, VDE, OIH, USO, UCO, SCO, BNO Energy remains at the top of this month's sector standings but has narrowed its October gain to ~11% vs. a 6.5% month-to-date gain
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Crude oil, energy stocks slide as U.S. crude supplies rise