Oil and gas stocks tumble alongside dropping crude oil prices
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Every energy company on the S&P 500 Index sinks into the red as crude oil prices decline, with March WTI (CL1:COM)
-3.5% to $82.11/bbl and March Brent (CO1:COM)
-3% to $85.19/bbl, in a third straight down day after crude briefly touched seven-year highs last week.

Crude had climbed early in the session on concerns over tight supplies and rising geopolitical risks in Europe and the Middle East, but the sector finally succumbed to weak sentiment in the broader market.
"Risk assets are getting beat down today on the threat of war in the Ukraine, uncertainty about the intentions of the Federal Reserve, and the relative strength of the Dollar Index," says Mizuho's Bob Yawger, adding that crude oil also is lower on apparent progress in nuclear talks with Iran.
Today's sector decliners are led by TechnipFMC (FTI
-6.5%), Occidental Petroleum (OXY
-6%) and Diamondback Energy (FANG
-5.5%), which have all tumbled below their 50-day moving averages, while Oneok (OKE
-4.8%) sinks below its 200-day MA.
Other notable decliners include CNQ
-5.5%, PXD
-5.4%, APA
-5.3%, BKR
-5.2%, VLO
-4.9%, APA
-4.7%, COP
-4.2%, DVN
-3.7%, SLB
-3.4%, EOG
-3.2%, CVX
-3.1%, XOM
-2.7%.
ETFs: XLE, XOP, VDE, OIH, USO, BNO

The energy sector has narrowed its January gain to ~10% while the remaining 10 S&P sectors are down for the month.
Halliburton (HAL
-2.6%) also posts a sharp slide even after beating Q4 expectations and announcing its first dividend hike in seven years.