Oil plunge is bad for energy stocks but actually good for other areas of our portfolio


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

Retired lt. gen. watched tape of Putin’s Mariupol visit. Here’s what he saw
Silicon Valley Bank UK arm hands out £15m in bonuses days after £1 rescue
NFL’s Moreau diagnosed with Hodgkin lymphoma
Ireland beat England, win Six Nations Grand Slam
Essex murder: ‘It’s not going to be me, because you have no proof’