Oil and related enerꦫgy stocks fell Wednesday as the price of crude dropped to its ⛄lowest level since 2021. 

Shares of energy giants Chevron (CVX) Exxon Mobil (XOM), and BP (BP) fell between 2% and 3% soon after the opening bell, while oilfield services firms Halliburton Company (HAL) and Schlumberger Limited (SLB) and drillers APA (APA) and Diamondback Energy (FANG) also suffered losses.

Futures contracts for West Texas Intermediate, the U.S. crude oil benchmark, have tumbled about 20% since President Trump announced sweeping tariffs last week. The price was down about 3.5% to below $57.50 a barrel in recent trading after the U.S. imposed 澳洲幸运5官方开奖结果体彩网:wide-ranging tariffs overnight and 澳洲幸运5官方开奖结果体彩网:China retaliated. 

According to Federal Reserve Bank of Dallas' most recent energy survey, oil producers 澳洲幸运5官方开奖结果体彩网:require an average price of $65 a bar🌱rel to profitably drill, with nearly 60% requiring prices to be higher.