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13th April 2009, 08:05 AM
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Oil and gas stocks slip on lowered forecast for demand
SAN FRANCISCO (MarketWatch) -- Energy stocks followed the broader market lower early Monday after the International Energy Agency lowered its forecast for global oil demand. The Amex Oil Index fell 2.6% to 870 points while the Amex Natural Gas Index and the Philadelphia Oil Service Sector Index both lost more than 3%. Crude for May delivery dropped 86 cents, or 1.7%, to $51.38 a barrel in electronic trading on Globex.
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