Wall Street Ends Quarter With Oil At Record Highs

New York, NY (AHN) - Wall Street ended the second quarter with oil making another record high, spiking to $143.67 a barrel before pulling back on Monday.

Crude oil settled at $140 on the New York Mercantile Exchange. The Dow Jones Industrials and S&P 500 closed relatively flat, adding 3.5 points and 1.6 points respectively.

The Nasdaq Composite finished lower 23 points or 1 percent Monday as the banking stocks within the average provided a drag, down more than 1 percent on a whole.

Monday also marked the end of a rough second quarter for the markets. The Dow Industrials shed more than 7 percent as large components such as American International Group (AIG) and Bank of America (BAC) lost more than 35 percent over the second quarter.

Monday marked the third quarter in a row the Dow Jones Industrial average ended lower.

The S&P 500 average moved lower 3.2 percent during the second quarter while technology squeaked out a tiny gain with the Nasdaq Composite up 0.5 percent.

The worst second quarter performer was the airline industry, down 40 percent as ever-rising oil prices continue to strain the airlines.

On the flipside, the oil services sector marked the largest second quarter gain, up 26 percent.