Energy-related exchange-traded funds were among the worst decliners Tuesday, as traders anticipated that a government report expected Wednesday will show stocks of oil and gas are continuing to rise.
Energy traders also turned their attention away from the Nigerian strike to questions involving Venezuelan production.
still have not come to an agreement with Venezuela's state-run oil company allowing the companies to continue to pump there. The front-month crude contract was recently down $1.22 to $67.96 a barrel.
PowerShares DB Oil
was falling 51 cents, or 1.9%, to $26.77. The
United States Oil
ETF was down 96 cents, or 1.8%, to $51. The
iShares Dow Jones U.S. Oil & Gas Exploration Index
was lower by 93 cents, or 1.5%, to $58.55. The
iPath S&P Crude Oil Index
ETF was losing 69 cents, or 1.7%, to $37.51.
ETFs tracking silver and gold were also among the worst performers. Silver futures fell by 69 cents to $12.19 an ounce. Gold futures were losing $8.90 to $643 an ounce.
iShares Silver Trust
was down $7.22, or 5.3%, to $121.03. The
PowerShares DB Silver
ETF was down $1.35, or 5%, to $24. The
Market Vectors Gold Miners
eased 92 cents, or 2.4%, to $36.93. The
iShares COMEX Gold Trust
shed $1.01, or 1.4%, to $63.52.
Among winners, the
iShares Dow Jones U.S. Medical Devices
was up 1.7%, thanks to headlines out of
Late Monday, Medtronic said that the Supreme Court will decide whether patients can seek state court remedies against the company, even though its balloon catheter medical device won premarket approval by the Food and Drug Administration. Medtronic was higher by 1.4%, and the ETF was gaining 90 cents to $54.91.
Also in the health sector, the
was rising thanks to gains of 1.9% or more in holdings
. The ETF was adding $1.18, or 1.5%, to $81.97.