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Why ExxonMobil, ConocoPhillips, and BP Stocks Dropped Today

TheMotleyFool

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Why ExxonMobil, ConocoPhillips, and BP Stocks Dropped Today: https://g.foolcdn.com/editorial/images/789478/1-declining-stock-chart-as-background-to-oil-derricks-at-sunset.jpg

Tuesday is looking like a bad day to be invested in oil stocks, as downbeat news in the oil sector takes a toll on shares of oil majors ExxonMobil (NYSE: XOM), ConocoPhillips (NYSE: COP), and (NYSE: BP).

OilPrice.com is reporting on a "plunge" below $75 a barrel in Brent crude prices (currently $74 and change). WTI crude -- more popular in the U.S. -- is suffering a similar fall, down 3.8% at about $70.70 as of 10:30 a.m. ET.

Exxon stock is down 3.2% in response, followed by BP at a 3.5% decline, with Conoco bringing up the rear with a 3.7% loss.

Source Fool.com