After rebounding last Friday, oil prices in the U.S. slipped more than 2% in Monday’s trading as West Texas Intermediate crude settled down 60 cents to reach $24.14 a barrel.
Brent crude, the international benchmark dropped too, falling 77 cents or 2.5% to hit $30.20 a barrel.
Natural gas prices were up a penny at $1.83 per MMBtu.
On the heels of its first quarter report showing a loss of millions and doubt expressed by company leaders of Chesapeake’s ability to survive, the company shares lost more than 12%, falling $1.80 to $12.90 per share.
ConocoPhillips was down 81 cents at $42.27 a share, a 2% drop.
Devon Energy dropped 2% as well, falling 24 cents to $12.46 a share. Marathon Oil was down 3 cents at $5.75 while ONEOK gained 5 cents to hit $31.38.
Phillips 66 was off 39 cents at $76.67 while American Electric Power slid 69 cents and finished the day at $79.17 a share.
