Crude oil prices are falling sharply again on Feb. 27, continuing a week-long sell-off as coronavirus outbreaks spread and fears of a global economic slowdown take hold. As of 12:26 p.m. EST, both Brent and West Texas crude futures had lost more than 2% of their value. If today's decline holds, that will put crude prices down 12% since Feb. 20.
This sharp decline in oil prices is playing havoc with plenty of companies in the energy industry, with drilling contractors among the hardest-hit. Today six of the biggest onshore and offshore drillers saw their stocks fall by double digits in early trading, though some have recovered a bit.
But it's been an ugly week. If we go back to Feb. 20, when oil prices started falling, those six stocks have lost between 25% and 49% of their value: