Energy futures slid as crude oil futures more than pared yesterday's gains to close below $90 a barrel. Crude oil for February delivery finished down $2.17, or 2.4%, to $89.38 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is down 2.59% to $38.04. The United States Natural Gas ETF ( UNG ) is down 0.48% to $6.28. In late-session energy news, Zion Oil (ZN) is higher in late trading after announcing it was temporarily reducing the exercise price of its warrants from $7 to $4 each through March 7. Meanwhile, BP ( BP ) ADRs are still higher ahead of the closing bell following an earlier report from The Daily Mail that Royal Dutch Shell (RDS.A) mulled an opportunistic takeover bid of BP during its vulnerable period surrounding the Gulf of Mexico spill.
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