Encana Corp. (ECA) Trades Down as Oil Prices Drop

Encana Corp. (NYSE:ECA) was under pressure as oil as gas prices fell Wednesday, dragging most of the energy companies 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.

EnCana Corporation participates in the exploration for, development, production, sale, and marketing of natural gas, crude oil, and natural gas liquids mostly in North America.

Encana Corp. (ECA) closed Wednesday at $32.59, down $0.35, or 1.06 percent.