Pessimism Toward European Energy Stocks Rises Sharply

How quickly things change in the space of energy. The latest wobble in the price of oil has led many investors to reassess their bets on a sector that has been plagued over the last couple years by fears that many companies will collapse under the weight of their debt.

West Texas Intermediate (WTI) crude stabilized around $48.50 a barrel this morning after Saudi Arabia reaffirmed it would stand by its production cut pledges. The Saudis' statement followed a week in which the price of oil plunged almost 10%. The drop came after OPEC's monthly report showed production in Saudi Arabia increased in February, sending the international Brent crude price below $50 for the first time this year. Brent went back to $51.60 after Saudi Arabia's statement, but worries linger....481 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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