Oil Prices Swooned 20% in June. Here’s What Energy Investors Need to Know.
Oil prices tumbled last month as the industry found workarounds for the Strait of Hormuz closure.
Overview
Crude oil prices cooled off considerably in June. WTI, the primary U.S. oil price benchmark, slumped 20% for the month, closing at $69.50 per barrel. Meanwhile, Brent, the global benchmark, tumbled nearly 25%, closing at just below $73 per barrel. Both oil benchmarks are down more than 30% over the past quarter, their worst three-month period since 2020.
Here’s a look at what fueled the June swoon in crude oil prices and what it means for energy stocks.
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Details
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Originally published at www.fool.com.
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