Australian Stocks Are Getting Hammered On The Oil Falls Again

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The Australian market is down 1.5% as falling oil prices, now at a five-year low, smashed energy and commodity stocks.

The price of Brent crude oil fell to $66.22 while WTI futures fell to $63.05. And Wall Street was weaker with the S&P 500 down 0.73% to 2,060.31.

Today at lunchtime the energy index on the ASX was down 4.4%.

Petroleum exploration company Senex was down more than 15%. Karoon and Santos, also with oil and gas exploration interests, were both down more than 8%.

BHP, the world’s biggest miner, fell more than 3% to $29.10. Woodside Petroleum was down 2.3% to $35.56 and Rio Tinto was weaker by 2% to $55.98.

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