Global crude prices are falling again, a day after a short-lived rally and gains from the morning, as traders worry about a global supply glut, CNBC reports.
Traders also cited a Bloomberg report that a Nigerian port workers union had suspended a strike, CNBC added.
Brent crude for February delivery is down 1.11% to $60.50 a barrel as of 1:40 p.m. ET today, after trading as high as $63.70 earlier in the morning.
WTI Crude for January delivery, which expires after Friday's settlement, is lower by 1.13% to $55.83 a barrel, off a session-high of $58.73.
Similarly, LINN Energy (LINE) -- which is owned by LINN Co -- is down 8.45% to $12.40 today.
Separately, TheStreet Ratings team rates LINNCO LLC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate LINNCO LLC (LNCO) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself."