NEW YORK (MarketWatch) � Energy stocks fell into the red Wednesday for the tenth out of the last 11 sessions as lower crude oil prices continued to pressure the sector.
After trading into positive territory for most of the day, energy stocks fell back into the red with crude oil futures �moving below $93 a barrel for the first time since late 2011.
Energy stocks contained in the S&P 500 SPX �dropped 0.8%, on average, outpacing the 0.4% loss by the broad index.
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Among the laggards, First Solar Inc. FSLR �dropped 8%, Alpha Natural Resources ANR �lost 4.4% and Chesapeake Energy corp. CHK �declined 4.2%.
On the plus side, Cabot Oil & Gas COG � rose more than 2%.
Checking the major energy sector benchmarks, the NYSE Arca Natural Gas Index XX:XNG �dipped 0.4%, the NYSE Arca Oil Index XX:XOI �moved down by 0.3% and the Philadelphia Oil Service Index OSX �declined 1%.
Setting a downbeat tone for the energy sector, the Dow Jones Industrial Average DJIA �fell about 34 points, with components Exxon Mobil Corp. XOM �and Chevron Corp. CVX �up 0.5% and 0.1% respectively.
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