SIOUX FALLS, S.D. (AP) - Oil-company stocks tumbled Wednesday as the price of crude oil dropped to nearly $75 a barrel.
Shares of Marathon Oil Corp. fell $4.19, or 14 percent, to $25.66 in morning trading, while Hess Corp. lost $7.40, or 13 percent, to $50.91.
Exxon Mobil Corp. fell $5.56, or 8 percent, to $66.82 and ConocoPhillips dropped $5.19, or 9 percent, to $51.77.
Also losing ground, Devon Energy Corp., down $8.92, or 12 percent, to $66.25; Holly Corp. down $2.63, or 13 percent, to $16.99; and Occidental Petroleum Corp, down $6.78, or 13 percent, to $45.68.
On the New York Mercantile Exchange, light, sweet crude for December delivery fell $3.40, or 4.3 percent, to $75.55 in morning trading. That's nearing half of the all-time high of $147.27 set on July 11.
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