Oil stocks tumble premarket after crude prices fall below $50 a barrel for first time in 2017 [MarketWatch]
NRG Energy, Inc. (NRG)
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Source: MarketWatch
Oil stocks tumble premarket after crude prices fall below $50 a barrel for first time in 2017 Shares of energy companies fell in premarket trade Thursday, after crude futures dropped below $50 a barrel for the first time in 2017. The April contract CLJ7, -2.31% slid $1.41, or 2.8%, to $48.88 a barrel, after trading as high as $50.84 earlier in the day. May Brent crude on London's ICE Futures exchange LCOK7, -2.15% also erased gains, sliding $1.42, or 2.7%, to $51.69 a barrel. Traders in London said the drop came as traders stopped betting oil prices will go higher and sold out of their long positions. NRG Energy Inc. NRG, +0.41% led the decliners, shedding 3.9% premarket. Chesapeake Energy Corp. CHK, -6.08% slid 1.8% and Devon Energy Corp. DVN, -6.52% was down 2%. Marathon Oil fell 1.8% and Cimarex Energy Co. XEC, -3.86% was down 1.6%. Among oil majors, Exxon Mobil Corp. XOM, -1.81% fell 0.6%, Chevron Corp. CVX, -1.97% was down 0.7% and ConocoPhillips COP, -3.
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- 4/17/24 - Form 8-K
- 4/10/24 - Form DEFA14A
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