Brent crude for August delivery was down 1.66% to $63.38 a barrel as of 12:39 p.m. ET today, while U.S. crude for August delivery was falling by 1.38% to $60.17 a barrel.
Although the Energy Information Administration reported that U.S. crude stocks fell more than expected, the crude market is being hampered by the situation in Greece, according to Reuters.
Oklahoma City-based SandRidge Energy is an oil and natural gas company that focuses on exploration and production activities, operating businesses and infrastructure systems.
Insight from TheStreet's Research Team
SandRidge Energy is a core holding of David Peltier's Stocks Under $10 Portfolio. During the most recent weekly roundup, this is what Dave had to say about the stock:
SandRidge Energy (SD; $1.07; 1,600 shares; 0.91%; Inflection Point; $8 price target): The company explores for natural gas and oil in the U.S., primarily onshore. The shares fell fractionally this week. Even so, we continue to believe that SandRidge is better hedged and has relatively less debt that its peers.
Want more information like this from David Peltier BEFORE your stock moves? Learn more about Stocks Under $10 now!