Markets

TransGlobe Energy Down 7% As Falling Crude, Yemen Concerns Weigh

TransGlobe Energy Corp (TGL.TO) is sinking to its lowest point of the day, with shares falling nearly 6% to $12.77 each, one of the deepest percentage drops among TSX-listed oil and gas companies today.

There has been no company-specific news involving TransGlobe although most energy stocks have been sliding today with declines in crude oil prices. The stock also may be under some pressure from the ongoing turmoil in Yemen, where Transglobe has operations and Yemeni President Ali Abdullah Saleh is fighting to retain power amid popular unrest.

TransGlobe is scheduled to release Q1 earnings on Monday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More