FANG - Oil prices plunge from 14-year highs; Exxon Chevron slip after eight straight gains

Energy stocks (XLE -3.1%) comprise Wednesday's five biggest losers on the S&P 500, as crude futures plunged by the most since November after the United Arab Emirates and Iraq signaled OPEC may have greater willingness to raise production, as well as hopes for a de-escalation of the Russia-Ukraine conflict. April WTI crude oil (CL1:COM) closed -12.1% to settle at $108.70/bbl, after ending Tuesday at its highest since August 2008, and May Brent crude (CO1:COM) -13.2% to $111.14/bbl, after closing at its best level since July 2008. At the close: PSX -5.9%, XOM -5.7%, SLB -5.6%, HAL -5.2%, VLO -3.7%. Other noteworthy decliners include: FTI -5.4%, HAL -5.2%, PAA -4.2%, NOV -3.7%, EOG -3.4%, FANG -3.2%, PXD -2.9%, MRO -2.8%, BKR -2.8%, COP -2.6%, CVX -2.5%, BP -2.4%, SHEL -2.3%, ET -2.3%, RIG -2%. But Occidental Petroleum (OXY +5.6%) bucked the trend, settling sharply higher on heavy volume. ETFs: USO, [[UCO],

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Oil prices plunge from 14-year highs; Exxon, Chevron slip after eight straight gains