Crude Oil Is Down And Energy Stocks Are Taking A Beating

NYMEX Crude oil for December delivery is down 3.1% to $90.30 per barrel on account of uncertainty in the EU following reports of a Greek referendum and the strength of the U.S. dollar. It is, however, well-off its 52-week low of $76.15 per barrel.

Energy stocks have also been dragged down by broader selling in the market. Halliburton is down 6.7%. Sclumberger Ltd. is off 4.8%.

Baker Hughes is off over 8% after posting adjusted Q3 net income of $518 million or $1.18 per share which missed analysts’ estimates.

Valero Energy Corp. which quadrupled its Q3 profit to $1.2 billion or $2.11 per share, is down 1.2%.

Now here’s a look at how oil’s been trading:

crude oil futures

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