Energy (NYSEARCA:XLE) brings up the rear in Thursday's sector standings, -2.7%, with crude oil futures falling sharply as investors weighed signs of slumping U.S. gasoline demand and the return of supplies from Libya. U.S. WTI crude oil (CL1:COM) for September delivery -2.8% to $97.04/bbl while September Brent crude (CO1:COM) -2.1% to $104.64/bbl. Among the biggest decliners in the oil and gas group: (BKR) -7.1%, (VLO) -6.4%, (HAL) -5.6%, (APA) -4.9%, (MRO) -4.5%, (SLB) -4.5%. Meanwhile, Libya said Wednesday that crude production had resumed at several oilfields after lifting of force majeure on oil exports last week, with output expected to return to 1.2M bbl/day within 10 days. Kinder Morgan (KMI) is one of the day's few gainers in the energy sector, +1.1%, after beating Q2 earnings estimate and foreseeing full-year adjusted EBITDA coming in favorably to its budget by 5%.
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