NEW YORK | Oil prices sink again as post-election stock surge fades
NEW YORK — Stocks in the U.S. slipped Thursday as the ninth consecutive drop in crude oil prices hurt energy companies. U.S. markets were coming off huge gains the day before.
U.S. crude oil has now slumped more than 20 percent since early October, meeting Wall Street’s definition of a “bear market.”
Government fuel stockpiles have steadily expanded, pushing supplies higher, and the U.S. issued waivers to a number of countries that buy oil from Iran.