Why Antero Resources Stock Tumbled Nearly 15% in July
Shares of Antero Resources (NYSE: AR) fell 14.5% in July, according to data provided by S&P Global Market Intelligence. Weighing on the natural gas driller's stock was weaker pricing and its somewhat disappointing second-quarter results.
Natural gas prices tumbled last month, falling to a three-year low. Driving down the fuel's price is persistent oversupply because drillers continue to produce more gas than the market needs. The glut came in spite of robust gas consumption from the power industry last month. The sector generated record amounts of electricity to meet demand from air conditioners used to battle this summer's heatwave.
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