Why Chevron, Devon, and ExxonMobil Stocks Are Still Going Down
Energy investors can't seem to catch a break.
After falling basically nonstop for a full week, oil prices briefly bounced back on Tuesday, then just turned around and resumed falling this morning. As of 10:50 a.m. ET today, the price of a barrel of WTI crude is down 4% to about $68.50. Brent crude, the international benchmark, isn't off quite so much, but it's still down -- 3.7%, to just about $74.50 a barrel.
Unsurprisingly, oil stocks are continuing to follow oil prices lower. Chevron (NYSE: CVX) stock slid 3.3%, ExxonMobil (NYSE: XOM) exxed out 4%, and Devon Energy (NYSE: DVN) dropped 6.1%.
Source Fool.com