Oil stocks suffered a third straight day of falling share prices on Friday, with oil majors ExxonMobil (NYSE: XOM) and Chevron Corporation (NYSE: CVX) and pipeline operator Enterprise Products Partners (NYSE: EPD) all dropping sharply in early-morning trading. As of 10:50 a.m. EST, Exxon stock remains down 1.6%, Chevron has lost 1.8%, and Enterprise Products stock is down 2.4%.
Tumbling oil prices were the cause.
After falling through the early part of December, oil prices started to rebound last week, with WTI crude topping out at $77.67 a barrel midday Wednesday. Then that trend reversed.
Source Fool.com