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WLL - Why Oil Stocks Are Falling Back Down to Earth Today
Chord Energy Corp Com (New)
Oil prices are cooling off today after Monday's historic rally. Crude was down about 5% at 10:45 a.m. EDT on Tuesday, after spiking 15% on Monday, which caused oil stocks to go ballistic.
Unsurprisingly, today's decline in the price of crude is causing energy stocks to give back some of those gains. Among those hardest hit were California Resources(NYSE: CRC), Denbury Resources(NYSE: DNR), Whiting Petroleum(NYSE: WLL), Chesapeake Energy(NYSE: CHK), and Continental Resources(NYSE: CLR).