Valero Energy is shutting down its refinery in Delaware City, Del., in a move that will eliminate 550 jobs after failing to find a feasible buyer.

Energy stocks move into the red with the broad market as investors eyed lower production growth from Marathon Oil, weaker oil prices.

Marathon Oil says it expects 2009 production growth of 6% over the year-ago period as the energy company joins others in ramping up efforts to find more oil and gas while ratcheting down investment in the moribund refining and marketing business.

Energy stocks perk up on a healthy figure for U.S. factory orders after moving lower in early action.

Marathon Oil says it managed to increase its production by 5% to counteract the sting of lower oil prices, as the energy firm's net income fell by a steep 80%.

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Ridgewater Equity (RWE).