Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Oil Stocks Are Under Pressure Again Today

TheMotleyFool

0 0

Why Oil Stocks Are Under Pressure Again Today

Oil prices continued sliding today. West Texas Intermediate, the U.S. oil price benchmark, fell 1.2% on the day, closing below $20 a barrel for the first time since 2002.

That slump in crude prices weighed on most oil stocks, especially those of producers. Several tumbled more than 10% at one point on the day, including Devon Energy (NYSE: DVN), Noble Energy (NASDAQ: NBL), Occidental Petroleum (NYSE: OXY), Hess (NYSE: HES), and Ovintiv (NYSE: OVV).