Oil Prices Post Small Gain

Shares of the newly public offshore exploration company W&T Offshore(WTI Quote) jumped more than 5% Tuesday, despite posting only slightly higher earnings for the first quarter and a slip in its production forecast for the second quarter. Shares later in the day rose 60 cents, or 2.86%, to $21.60.

Shares of major oil producers slumped in late Tuesday trading, as the Amex Oil Index dropped 1.56%. Exxon Mobil(XOM Quote) fell 1.42%; ChevronTexaco(CVX Quote) fell 1.03%; ConocoPhillips lost 1.79%; Royal Dutch/Shell(RD Quote) decreased 1.26%; and BP(BP Quote) fell 0.81%.