Why Pioneer Natural Resources Tumbled More Than 10% in July

·2 min read
Why Pioneer Natural Resources Tumbled More Than 10% in July

Weighing on the oil stock were lower oil prices and its oil hedging program. Oil prices moderated a bit in July. West Texas Intermediate, the primary U.S. oil benchmark, fell from its peak above $75 a barrel at the beginning of the month to a few dollars below that price point by month-end.

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