Oil prices have endured historic volatility this month. They've suffered two of their worst plunges on record, including nosediving to their lowest level since 2002 a few days ago. Meanwhile, crude prices delivered their biggest rally ever on Thursday, before giving back some of those gains today. At 1:30 p.m. EDT, the U.S. oil benchmark, WTI, had fallen about 6% to less than $24 a barrel.
Usually, falling oil prices would drive down energy stocks. But many are rallying again today, including ONEOK (NYSE: OKE), Holly Energy Partners (NYSE: HEP), Williams Companies (NYSE: WMB), and Sunoco (NYSE: SUN), which had all jumped by more than 20% at one point in the trading day.
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