Emerging markets oil and gas ADRs mostly fell Tuesday afternoon even as crude prices touched yet another all-time high on the New York Mercantile Exchange, and showed no signs of slowing soon.
Light, sweet crude for June delivery rose $2.29 to $129.34 after rising as high as $129.58 on the Nymex earlier in the day.
Yet in emerging markets _ which are rapidly consuming more of the world's oil supply _ most ADRs of companies that sell oil and gas did not get a boost from the news.
ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.
Shares of China Petroleum & Chemical Corp. fell $4.57, or 4.7 percent, to $92.18.
Shares of PetroChina Co. shed $5.32, or 3.6 percent, to $142.64.
Shares of Hong Kong's CNOOC Ltd. lost $2.27 to $193.75.
The stock losses come after an earthquake in central China last week killed more than 40,000 people and caused extensive property damage.
Meanwhile, shares of Brazil's Petrobras slipped 6 cents to $72.13.
Bucking the trend, shares of South Africa's Sasol Ltd. rose 26 cents to $65.89.
Shares of Argentina's Petrobras Energia Participaciones SA increased 7 cents to $13.10.
The Bank of New York Emerging Markets ADR Index _ which includes shares of companies based in China, Mexico, Brazil and more _ lost 7.34 points, or 1.86 percent, to 386.57.
The Bank of New York Composite ADR Index shed 2.04 points to 186.35 as the U.S. markets dropped in afternoon trading.
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