Energy stocks among worst performers in S&P on Tuesday

Christine Wang
Andrew Cowie | AFP | Getty Images

Energy stocks were among the biggest losers in the S&P 500 (^GSPC) on Tuesday amid a decline in crude oil futures.

U.S. West Texas Intermediate (New York Mercantile Exchange: @CL.1) crude futures fell nearly 3 percent to trade near $44.62 per barrel. Brent (Intercontinental Exchange Europe: @LCO.1) crude futures also fell nearly 3 percent to about $46.05 per barrel.

The slide in oil futures comes amid increased pessimism for a production cap agreement following a meeting of oil producers in Algeria.

Chesapeake Energy (CHK), EQT Corp. (EQT) and Southwestern Energy (SWN) skidded more than 8 percent, 5 percent, and 4 percent, respectively in intraday trade.

Even with Tuesday's declines, the S&P 500 energy sector (CME:Index and Options Market: .GSPE_WTD) is up more than 8 percent so far this year.