Why Energy Stocks Are Bouncing Back Today [The Motley Fool]
Holly Energy Partners, L.P. (HEP)
Last holly energy partners, l.p. earnings: 2/19 06:30 am
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Source: The Motley Fool
What happened Oil prices have endured historic volatility this month. They've suffered two of their worst plunges on record, including nosediving to their lowest level since 00 a few days ago. Meanwhile, crude prices delivered their biggest rally ever on Thursday, before giving back some of those gains today. At :0 p.m. EDT, the U.S. oil benchmark, WTI, had fallen about 6% to less than $ a barrel. Usually, falling oil prices would drive down energy stocks . But many are rallying again today, including ONEOK ( NYSE:OKE Holly Energy Partners NYSE:HEP Williams Companies NYSE:WMB Sunoco NYSE:SUN Image source: Getty Images. So what Bargain hunting seems to be driving today's rally as investors are picking up shares of badly beaten-down stocks. Pipeline giant ONEOK, for example, has shed a stunning 70% of its value in the past few weeks as investors have sold off anything energy related. But the company doesn't currently anticipate the slump in the oil market to have much effect on its earn
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