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.
Image source: Getty Images.
Source Fool.com
