Anadarko (APC) Trades Down as Oil Prices Plunge

Oil as gas prices dropped Wednesday, dragging many energy companies like Anadarko (NYSE:APC) down with them.

Brent crude settled down $5.06 at $112.57 a barrel, while U.S. crude futures dropped $5.67 to settle at $98.21.

Natural gas for June delivery settled 6.5 cents, or 1.5%, lower, at $4.181 per million British thermal units on the New York Mercantile Exchange.

The U.S. Oil Fund (USO) dropped 4.2 percent to closed at $39.35, the Energy Select Sector SPDR Fund (XLE) was down 2.9 percent to close at $74.28, and the U.S. gasoline fund LP (UGA) plunged 6.4 percent to close at $51.44.

Anadarko Petroleum Corporation participates in the exploration and production of oil and gas properties mostly in the United States, the deepwater of the Gulf of Mexico, and Algeria.

Anadarko (APC) closed Wednesday at $74.67, down $2.47, or 3.20 percent.