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Williams Cos. (WMB) Stock Retreats on Dropping Oil Prices

NEW YORK (TheStreet) -- Shares of Williams Cos. (WMB) are sliding 0.81% to $24.47 in late-afternoon trade as speculation of a global oil glut leads oil prices lower.

Crude oil (WTI) is down 1.3% to $44.17 per barrel and Brent crude is falling 1.23% to $45.63 per barrel.

The Baker Hughes (BHI) rig count data, released earlier today, revealed that U.S. drillers had added 15 active rigs last week. There are now 462 rigs active in the U.S.

In Iraq...