Energy stocks were under pressure Wednesday as crude-oil prices settled at a two-and-a-half week low. A popular way to track oil stocks, the Energy Select Sector SPDR ETF , declined 1.5%, putting the ETF on track for its worst one-day decline since April 13, according to FactSet data. The ETF, which closely follows the S&P 500’s energy sector, was led lower by a 3.8% drop in Marathon Oil Corp. and Newfield Exploration Co. , trading 3% lower. The energy sector was the worst performer among the S&P 500 index’s 11 sectors and dragging the broader market into negative territory late in the session. Sparking the decline in energy was a nearly 4% drop in crude-oil prices, with May West Texas Intermediate crude contract settling below $51 a barrel. Market participants attributed the drop in oil to a combination of volatility caused by the expiration of the May WTI contract, which is set for Thursday. Energy names also pulled the Dow Jones Industrial Average lower, topped by a 1.5% loss in shares of Chevron Corp. . The Dow was off 0.6%, while the S&P 500 was down 0.2%, with about a half-hour left in Wednesday trade.
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