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PSX - Big Oil Stocks Are Crashing on More Bad News
Phillips 66
The broader stock market is in a full-on sell-off on June 24 as COVID-19 cases move higher across the U.S., and investors sell on fears that the beginnings of an economic recovery could be at risk. Oil stocks in particular are taking it on the chin today, with the COVID news being paired by another week of data from the U.S. Energy Information Administration (EIA) showing that the oil market is still badly out-of-whack.
Even the biggest Big Oil stocks are feeling the impact. As of 2:04 p.m. EDT, the following Big Oil stocks are down sharply: