88 Energy (EEENF) Stock Faces a Nightmare Amid Plunging Crude Oil Prices

After Russia announced a withdrawal of its military forces from northern parts of Ukraine and preference to stay in Donbas, and occupied southern parts claiming that nationalist Ukrainians are hurting Russian speaking population. Oil prices started declining after the negotiation took place between Ukraine and Russia in Istanbul, Turkey.

88 Energy (EEENF) is the first oil stock that began falling dramatically by 66%. Why is it happening to only one stock when other big oil giants are plunging slowly?

  • EEENF is trading in the OTC market where stocks move sharply all the time
  • Fear of declining revenue due to cheap oil prices is the major factor in chasing investors away

If Russian oil and gas stop flowing abroad completely the EEENF shares will surely blast off. So, holding its Australian ASX: 88E shares is most likely a good decision today.