Energy stocks fell on Wednesday after oil prices dropped for the third straight day to a two-week low on a surprise build up in U.S. crude stockpiles, poor U.S. economic data and fears that the rising cases of the coronavirus Delta variant will weigh on global energy demand.
U.S. West Texas Intermediate (WTI) crude fell by 3.4%, to settle at $68.15 while Brent futures fell by 2.8%, to settle at $70.38 a barrel, the lowest for both benchmarks since July 20.
19 ETFs focusing on Energy large and mid-cap stocks followed path and posted on average -2.96% returns on Wednesday.
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