OIL PRICES PLUNGE TO 4-YEAR LOW, U.S. ENERGY STOCKS TUMBLE
Global oil markets are reeling as Brent crude drops 5.1% to $59.58 and WTI crude plunges 5.4% to $56.34—the lowest levels since February 2021. The sharp fall follows China’s latest round of retaliatory tariffs on U.S. goods, escalating the trade war and shaking energy demand forecasts.
Major U.S. energy stocks took a direct hit:
• Chevron (CVX): -2.3%
• ExxonMobil (XOM): -2.1%
• Devon Energy (DVN): -2.9%
• Diamondback Energy (FANG): -3%
• Baker Hughes (BKR): -3.5%
• Halliburton (HAL): -3.4%
U.S. refiners also dipped:
• Marathon Petroleum (MPC): -1.7%
• Valero (VLO): -2.7%
With energy markets now pricing in a broader slowdown and geopolitical instability mounting, traders and analysts warn of further volatility ahead.
#OilCrash #EnergyMarkets #TradeWar #WTI #BrentCrude @rageintel
