Even though oil prices have been steadily rising recently, they dropped back on Monday, putting downward pressure on the share prices of giant energy companies like Oasis Petroleum (NYSE:OAS), Questar Corporation (NYSE:STR), Tesoro Corporation (NYSE:TSO) and Vaalco Energy (NYSE:EGY).
On the New York Mercantile Exchange, crude oil was down 3.3 percent or $3.77 to $109.04 a barrel. Reformulated blendstock gasoline prices fell 0.6 cents to $3.1945 a gallon.
According to AAA, the national average price of unleaded gasoline jumped to $3.77 a gallon Monday from $3.761 on Sunday.
Oasis Petroleum closed Monday at $31.10, falling $0.64, or 2.02 percent. Questar Corporation closed at $17.21, down $0.23, or 1.32 percent. Tesoro Corporation closed at $25.65, dropping $0.14, or 0.54 percent.
Vaalco Energy closed at $7.04, dropping $0.30, or 4.09 percent.
Tuesday, April 12, 2011
Oasis (OAS) (STR) (TSO) (EGY) Drop as Oil Prices Fall
Labels:
Oasis Petroleum,
Questar,
Tesoro,
Vaalco Energy
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