Why ONEOK Stock Cratered 67% in March
Shares of ONEOK (NYSE: OKE) plummeted 67.3% in March, according to data provided by S&P Global Market Intelligence. Weighing on the pipeline company was a more-than-50% nosedive in the price of oil.
Crude oil prices cratered last month because of the COVID-19 outbreak and the collapse of Russia's market support agreement with OPEC. That's causing investors to grow concerned about how the plunge in oil prices will affect the U.S. oil industry.
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Source Fool.com