U.S. crude oil plunges 6.7% to $42.53/bbl, weakest since mid-2017
Seeking Alpha
Published Dec 24, 2018 01:56PM ET
U.S. crude oil plunges 6.7% to $42.53/bbl, weakest since mid-2017
- U.S. crude oil futures plunged below $43/bbl for the first time since June 2017, with February WTI settling -6.7% to $42.53/bbl and declining in tandem fall in line with another precipitous drop across global stock markets.
- Meanwhile, Brent crude -5.6% to $50.78/bbl, its weakest since August 2017.
- U.S. oil prices are down more than 40% since early October, including an 11% drop last week despite the production deal struck earlier in December between the OPEC and Russia; OPEC members such as the United Arab Emirates continued to try to reassure markets over the weekend saying that the countries would keep to their supply quotas.
- Among oil names in today's trade: XOM -3.8%, CVX -3.1%, RDS.A -1.9%, BP -2.7%, COP -4.7%, APC -5.5%, NBL -4.4%, HES -12.2%, MRO -5.9%, MPC -4.3%, VLO -3.8%, PSX -4.7%, APA -4.3%, DVN -4.2%, PXD -3.6%, CXO -4.9%, CLR -5.7%, EOG -5%, OXY -4.8%, KMI -5.5%, EPD -3.4%, ET -3.6%, PAA -5.6%.
- ETFs: USO, XLE, OIL, UWT, UCO, VDE, XOP, DWT, ERX, OIH, SCO, BNO, DBO, ERY, DIG, BGR, GUSH, DTO, FENY, USL, IYE, DUG, DRIP, IEO, FIF, DNO, NDP, PXE, OLO, RYE, PXJ, SZO, CRAK, FXN, OLEM, WTIU, DDG, OILK, NANR, OILX, WTID, USOI, USOU, USOD, FTXN, JHME, ERYY, ERGF, OILD, OILU, USAI
- Now read: Mr. Market Is Picking On Marathon Oil Again
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