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Here’s Why Oceaneering International Stock Is Falling on an Up Day for Oil

 March 13, 2020 - 2:59 PM EDT

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Here's Why Oceaneering International Stock Is Falling on an Up Day for Oil

Shares of offshore and undersea services provider Oceaneering International (NYSE: OII) were down 13.2% at 1:52 p.m. EDT on Friday. This continues what has been an awful week, with Oceaneering's stock losing two-thirds of its value during one of the worst-ever weeks for crude oil prices. 

Today's sell-off is frustrating for many investors. Crude oil prices are actually up today, with Brent gaining 2.7% at this writing and West Texas up a more modest 1.1%. Stocks are also rebounding from Thursday's horror show that saw them fall by the largest percentage in more than 32 years. 

Image source: Getty Images.

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Source: Motley Fool
(March 13, 2020 - 2:59 PM EDT)

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