Why ONEOK Stock Cratered 67% in March

Shares of ONEOK (NYSE: OKE) plummeted 67.3% in March, according to data provided by S&P Global Market Intelligence. Weighing on the pipeline company was a more-than-50% nosedive in the price of oil. 

Crude oil prices cratered last month because of the COVID-19 outbreak and the collapse of Russia's market support agreement with OPEC. That's causing investors to grow concerned about how the plunge in oil prices will affect the U.S. oil industry. 

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Source: Motley Fool
(April 3, 2020 - 12:25 PM EDT)

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