Energy Industry Faces Reckoning After Oil Prices Crash

📆 3/10/2020 7:01 AM
📰 WSJ

⏱ Reading Time:
15 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

The oil collapse calls into question the ability of U.S. producers to pay the tab rung up with bondholders and banks to fuel a price war with OPEC

The oil-price collapse wiped out tens of billions of dollars in energy-company stock market value in a moment Monday, calling into question the industry’s ability to pay a huge tab that it rang up with bondholders and banks to fuel its price war with OPEC.

Investors accelerated their flight from energy-company assets, sending stock and bond prices down by double-digit percentages. The exodus of capital threatens an industry that has been a pillar of the debt markets and of the U.S. economic recovery since the last recession.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

It’s been three days since the “collapse” of oil. Give it a rest.

Well lets start seeing it at the pump. It all works out in the end. Somebody missing out on their endless cash cow. WeThePeople

Love the low fuel costs.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves midday: Diamondback Energy, Walmart, Twitter and moreThese are the stocks posting the largest moves in midday trading.
Source: CNBC - 🏆 12. / 72 Read more »

Oil stocks tumble across the board amid Saudi/Russia price war, energy ETF down 16%Shares of oil companies tumbled in premarket trade Monday, as crude prices fell 20% amid a price war between Russia and Saudi Arabia. The Energy Select SPDR...
Source: MarketWatch - 🏆 3. / 97 Read more »