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Why Occidental Petroleum, Cheniere Energy, and Enbridge Are Plunging Today

Billy Duberstein, The Motley Fool
·3-min read
Why Occidental Petroleum, Cheniere Energy, and Enbridge Are Plunging Today

Shares of oil and gas companies Occidental Petroleum (NYSE: OXY), Cheniere Energy (NYSEMKT: LNG), and Enbridge (NYSE: ENB) were plunging today, down 5.9%, 5%, and 4.9%, respectively, as of 1:50 p.m. ET. The culprit for today's fall was easy to spot: Overall oil and natural gas prices plunged today, as another prominent bank appears to be in severe trouble. Following three recent U.S. bank failures last week, today it was Europe's Credit Suisse (NYSE: CS) that was the catalyst for economic jitters.

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