COM - Crude turns sharply lower as OPEC uncertainty rattles markets

The energy sector ([[XLE]] -1.2%) brings up the rear in the S&P sector standings, as crude oil prices continue to reel since OPEC+ talks collapsed on Monday.August WTI crude (CL1:COM) currently -1.8% to $72.03/bbl, and September Brent (CO1:COM) -1.5% to $73.39/bbl.ETFs: [[XLE]], [[USO]], [[UCO]], [[XOP]], [[VDE]], [[GUSH]], [[OIH]], [[ERX]], [[BGR]], [[BNO]]Today's selling ramped up after a WSJ report noted that the United Arab Emirates wants to increase its oil production before demand falls; the UAE's objection derailed a proposal to ease existing output curbs in a controlled manner and allow production to rise by 400K bbl/day each month through December.The WSJ article underscores market fears that the UAE may "want out of OPEC so it can pump 4M bbl/day and make hay while sun shines," Phil Flynn, market analyst at Price Futures Group, tells MarketWatch, but adding that market volatility is not unlike what is often seen around the July

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Crude turns sharply lower as OPEC uncertainty rattles markets