MRO - Energy stocks sink succumbing to broader stock market swoon
Oil and gas equities plunged Monday, with the S&P energy sector (NYSEARCA:XLE) tumbling to the bottom of the day's standings, as crude oil futures fall ~5% from pressure on multiple fronts. June WTI crude (CL1:COM) -5.1% to $104.20/bbl, and July Brent crude (CO1:COM) -4.7% to 107.04/bbl. ETFs: (XLE), (XOP), (VDE), (OIH) Marathon Oil (MRO) leads the losers among E&P names, -10%, while other notable decliners include APA (APA) -8.6%, EOG Resources (EOG) -8.4%, Coterra Energy (CTRA) -8.1%, Devon Energy (DVN) -8%, Occidental Petroleum (OXY) -7.5%, Pioneer Natural Resources (PXD) -6.9%, Exxon Mobil (XOM) -5.8%, Chevron (CVX) -5%. Some of the worst performers among oilfield services stocks are Nabors Industries (NBR) -12%, Liberty Engergy (LBRT) -10.5%, Patterson-UTI (PTEN) -10.1%, Transocean (RIG) -8.8%, Golar LNG (GLNG) -8.3%, Schlumberger (SLB) -7.4%, Halliburton (HAL) -6.9%. Energy tanker and transportation stocks deeply in the red Monday include Tsakos Energy Navigation (TNP) -12.7%, Nordic American Tankers (NAT) -10.9%, Frontline
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Energy stocks sink, succumbing to broader stock market swoon