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Oil Stocks Are Tumbling Again Today

TheMotleyFool

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Oil Stocks Are Tumbling Again TodayPhoto, wide shot, wide-angle lens, Gas company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/01083d82-021d-4573-8c40-0e836a0771d6.png

Oil prices continued to swing wildly following Monday's historic plunge. By 11:15 a.m. EDT on Wednesday, WTI, the U.S. oil benchmark, had declined by about 3%, giving up some of yesterday's gains.

That renewed slump in oil prices, as well as some company-specific news, is weighing on energy stocks today, with several tumbling more than 10%. Among the notable names experiencing significant declines were Occidental Petroleum (NYSE: OXY), Matador Resources (NYSE: MTDR), Laredo Petroleum (NYSE: LPI), Apache (NYSE: APA), and WPX Energy (NYSE: WPX).