While you were sleeping: Energy stocks slide with oil

Mon, 01 Aug 2016

By Margreet Dietz Aug. 2 (BusinessDesk) - Wall Street was mixed to start its week, with energy stocks falling alongside a drop in the price of oil. US crude fell below US$40 a barrel for the first time since April, amid renewed concern about a global glut. “It's stop-loss technical selling combined with sheer liquidation by those fearing we'll soon be swimming in oil again,” Phil Davis, trader at PSW Investments in San Diego, California, told Reuters. “We've had crude builds during the summer, when we were supposed to be having runaway...

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