Updated from 12:15 p.m. EDT with new stock prices

Energy-related exchange-traded funds were the best performers of Tuesday's session as oil prices surged close to $88 a barrel for the first time ever.

Crude was recently up $1.48 to $87.61, having earlier set an intraday record of $87.97 amid conflict between Turkey and Kurdish rebels in northern Iraq.

The United States Oil ( USO) ETF was gaining $1.09, or 1.65%, to $66.98. The iPath S&P GSCI Crude Oil Index ( OIL) was up 62 cents, or 1.27%, to $49.45. The Ultra Oil & Gas ProShares ( DIG) added 32 cents, or 0.27%, to $120.10.

The B2B Internet HOLDRs ( BHH) ETF was also advancing after the Federal Trade Commission waived the antitrust waiting period for Fiserv's ( FISV) acquisition of ETF holding CheckFree ( CKFR). CheckFree shareholders will now need to approve the deal when it votes on Oct. 23.

The B2B Internet HOLDRs ETF was recently up 1 cent, or 0.43%, to $2.36.

On the other hand, several earnings disappointments in the financial sector combined to sink related ETFs. KeyCorp ( KEY) said that third-quarter earnings missed targets. The company also guided the fourth quarter below consensus. Regions Financial ( RF) and Wells Fargo ( WFC) also fell short.

The Ultra Financials ProShares ( UYG) slumped $2.02, or 3.45%, to $56.60. The iShares S&P Global Financials ( IXG) was off $1.94, or 2.11%, to $89.99. The iShares Dow Jones U.S. Financial Services ( IYG) was down $2.44, or 1.97%, to $121.38.

Homebuilders were also among the worst decliners of the day. Following the previous session, Federal Reserve Chairman Ben Bernanke addressed the New York Economic Club about the recent credit crisis and its impact on consumers and the housing sector, noting that "the further contraction in housing is likely to be a significant drag on growth in the current quarter and through early next year."

The iShares Dow Jones U.S. Home Construction ( ITB) slid 81 cents, or 3.89%, to $19.99. The SPDR S&P Homebuilders ( XHB) was losing 52 cents, or 2.36%, to $21.50.

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