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11 Unit, 6the floor , Jalal Ale Ahmad High Way, Tehran , Iran

+98-21 8838 4292

Energy stocks whipsaw after Doha meeting failure

Energy stocks were whipsawed Monday, erasing earlier losses that arose after the world's oil producers failed to agree .

Energy stocks were whipsawed Monday, erasing earlier losses that arose after the world's oil producers failed to agree on a production output freeze on Sunday.

The conference's failure sent U.S. crude prices tumbling as much as 6.8 percent as traders resumed the commodity's sell-off. WTI was down 1.2 percent in the afternoon.

Chesapeake Energy was up 0.2 percent in afternoon trade, but closed 1.16 percent lower. Marathon Oil shares added as much as 3 percent, closing up 2.69 percent. Both stocks fell more than 8 percent at session lows.

Shares of Transocean and ConocoPhillips fell more than 3.5 percent before closing up 0.3 percent and nearly 3 percent, respectively.

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