

	Home
	News Updates
	Policy Release
	Statistics
	E-Government
	Your Comment
	Search online
	Contact us


Search:

Contact Editor


Add:No.2 Dong
Chang'an
Avenue,Beijing
China (100731)
Tel:8610-87519094
Fax:8610-87519093

Current Location: Homepage > News Updates > Text

Oil service sector down as crude remains lower after supply data

2008-05-29 05:32

From:Thomson Financial Article type:Reproduced

NEW YORK (Thomson Financial) - Oil service stocks traded mostly lower Wednesday, underperforming the broader market, as crude futures retreated from a record high near $127 a barrel.

The Oil Service Holdrs ETF (OIH) fell 0.7% to $205.39, following an earlier drop of 1.6%.

Crude for June delivery fell 99 cents, or 0.7%, to $124.90 a barrel on the New York Mercantile Exchange, after reaching a record of $126.98 in the previous session.

The contract had earlier slipped to $123.98, before paring losses after data showed U.S. crude supplies rose less than expected last week.

Crude inventories rose by 200,000 barrels in the week to May 9, less than the expected 1.5 million barrel rise, according to data released by the U.S.

Energy Information Administration.

Among the ETF's most heavily-weighted components, shares of Baker Hughes Inc. slipped 16 cents to $81.08, Schlumberger Ltd. fell 1.5% to $103.36 and Halliburton Co. dropped 1.1% to $48.27.

Smith International Inc. shed 66 cents to $81.49, while Weatherford International ltd. declined 2% to $85.32 and Noble Corp. lost 1.1% to $62.70.

【Big Medium-sized Small】【Print】【Transmit】【E-mail】

All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".

All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.

Release Comment：

Pen Name:

View Comment


	Add:No.2 Dong Chang'an Avenue,Beijing China (100731) Tel: 86-10-87519094 Fax: 86-10-87519093 Approved by:MINISTRY OF COMMERCE, PRC Supported by:CIECC E-mail: MOFCOM Mailbox