Environment

Drilling rigs sit unused on a companies lot located in the Permian Basin area on March 13, 2022 in Odessa, Texas.
Joe Raedle | Getty Images News | Getty Images

Energy stocks were slammed Wednesday as U.S. oil prices plunged to their lowest levels since December 2021. The extent of the decline in West Texas Intermediate crude — down 5.5% to under $67 per barrel — seems overdone in an energy market that remains structurally undersupplied.

Articles You May Like

Football manager steps in after ‘young kid’ tackled by steward
States announce major push to get to 20 million installed heat pumps, a cleaner alternative to gas furnaces that also provide AC
Soldier Field thieves nab $100K in equipment
Jaguar signs deal with Tesla for Supercharger access, will adopt NACS
Migraine treatment times ‘almost double’ in England amid calls for condition to be taken seriously