Crude Gets Another Lift

Also, Tropical Storm Erin, with sustained winds near 40 mph, is currently located approximately 250 miles southeast of Corpus Christi, Texas. A tropical storm warning is now in effect for the Texas coast south of Galveston.

Energy stocks ended the session mostly lower. The CBOE Oil Index dropped 2.4% to 702.90. Chevron (CVX Quote - Cramer on CVX - Stock Picks) lost 1.4% to $80.76, and Exxon Mobil (XOM Quote - Cramer on XOM - Stock Picks) fell 1.6% to $81.82.

GlobalSantaFe (GSF Quote - Cramer on GSF - Stock Picks), which plans to merge with Transocean (RIG Quote - Cramer on RIG - Stock Picks), was upgraded by Bernstein to market perform from underperform. However, its shares gave back 1.9% to $66.03.

Goodrich Petroleum (GDP Quote - Cramer on GDP - Stock Picks) was upgraded by Sun Trust Robinson Humphrey to neutral from reduce, lifting its shares 0.8% to $32.26.

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