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Why Pipeline Stocks are Getting Pummeled Today

TheMotleyFool

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Why Pipeline Stocks are Getting Pummeled TodayPhoto, wide shot, wide-angle lens, Coal company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.midjourneyapi.xyz/temp/2a011bdc-adca-4de9-8457-d868b31178cf.png

Crude oil prices cratered on Monday. At one point, oil was down more than 30%, though it bounced off those lows and was down about 17% at 12:30 p.m. EDT on Monday.

The sell-off in the oil market shook energy stocks to their core, with several, including many of the country's largest oil producers plummeting. Pipeline companies, which typically have minimal direct exposure to commodity prices, also plunged. Among the notable decliners were pipeline giants Kinder Morgan (NYSE: KMI), Enbridge (NYSE: ENB), Williams Companies (NYSE: WMB), Enterprise Products Partners (NYSE: EPD), and Energy Transfer (NYSE: ET). Each one tumbled more than 15% at one point in the trading day.