Crude Plunges, But Dow's Up 52

Oil ends at just over $31 a barrel
By Newser Editors and Wire Services
Posted Jan 11, 2016 3:22 PM CST
In this Wednesday, Jan. 6, 2016, file photo, trader Gregory Rowe works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – US stocks struggled to end mostly higher, but oil and gas companies were hit by another plunge in the price of crude. Chevron lost 2% and Exxon Mobil fell 1% Monday. Benchmark US oil sank another 5% and ended just above $31 a barrel, its lowest close since December 2003. Huge global supplies of oil and worries about weak demand from China have helped send energy prices sharply lower.

Mining companies also fell along with metals prices. Freeport-McMoRan slumped 29%. The Dow Jones industrial average gained 52 points, or 0.3%, to 16,383. The Standard & Poor's 500 index edged up a point, or 0.1%, to 1,923. The Nasdaq composite slipped five points, or 0.1%, to 4,637. (Read more stocks stories.)

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