Energy stocks were hit hard Monday after the world’s oil producers failed to agree on a production output freeze on Sunday.

The conference’s failure sent U.S. crude prices tumbling as much as 6.8 percent as traders resumed the commodity’s sell-off. WTI was down 3.6 percent in early morning trade.

Chesapeake Energy was down more than 7 percent in the premarket, while Marathon Oil shares slid nearly 5.5 percent. Shares of Transocean and ConocoPhillips fell more than 3.5 percent.

Read more

The Reopen America Back to School Special is now live! Earn double Patriot Points on our hottest items!

Related Articles