Renesola (SOL) (SOLR) (JASO) (LDK) Fall as Oil Corrects

A correction in commodities as a result of the plunge in oil prices pressured the solar sector, with GT Solar International (NASDAQ:SOLR) JA Solar Holdings (NASDAQ:JASO), LDK Solar (NYSE:LDK) and Renesola Ltd. (NYSE:SOL) all closing down Tuesday.

Crude oil prices for May delivery were down as much as 63 cents, or 0.6 percent, to $105.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $106.01 at 10:14 a.m. Sydney time. Yesterday, it fell $3.67 to $106.25. Prices fell 5.9 percent on April 11 and 12.

The U.S. boosted its crude-oil price estimate for 2011 to an average $106.38 a barrel from $101.77 in March, according to the Energy Department’s Short-Term Energy Outlook.

JA Solar Holdings closed Tuesday at $6.48, falling $0.11, or 1.67 percent. LDK Solar closed at $11.23, down $0.31, or 2.69 percent. Renesola Ltd. closed at $9.17, dropping $0.32, or 3.37 percent. GT Solar International ended the session at $9.78, declining $0.17, or 1.71 percent.