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). 

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Source Fool.com