Stock market selloff takes its toll on oil and natural gas prices

The recent stock market selloff hurt the oil and natural gas sector, “tossing all related fuels into the same sinking barrel,” reports the Pittsburgh Post-Gazette. The newspaper says oil future prices at the West Texas Intermediate hub were at $38.20 per barrel on August 24, the lowest since 2009. Natural gas, whose price descent began three years ago, ended at $2.67 per million British thermal units that day, a six-week low. The Post-Gazette also says stock prices of oil and gas companies with operations in western Pennsylvania “came out bruised” from the selloff.

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