The Worst-Performing Energy Stocks This Week
Energy stocks Friday took a pounding along with crude oil prices Friday, capping their worst week of 2012.
Marathon Oil and Valero Energy tumbled more than 8 percent this week.
The S&P Energy sector has now broken below its 200-day moving average — the only S&P sector to trade around those levels.
Energy is now the worst performing sector so far this year, and only one of two to trade in negative territory (utilities are also in the red).
Energy stocks make up about 11 percent of the S&P 500.
On the plus side, say analysts, is that as energy prices fall, the price of retail gasoline is also cooling down.
BOB New York Harbor Gas has fallen more than 13 percent since its high of $3.42 in early April and is now trading at $2.96. With today's 3-percent decline, the commodity is at its lowest level since mid-February.
Crude oil prices are also on track for their worst week since late September, down about 6 percent.