Oil Stocks Plunge As Divergence With Oil Prices Ends

Energy stocks have shed nearly 2% in Monday trading as crude oil prices tested the lowest levels of the year, breaking with a recent divergence that had seen energy stocks trend higher despite falling oil prices.  Widespread protests in China over Beijing’s zero-COVID policy and uncertainty over Chinese oil demand have sent energy markets into a tailspin.  While energy stocks had been defying falling oil prices for the first time since 2006, that divergence now appears to be dissipating.  As of 12:53 EST on Monday, Exxon (NYSE:XOM)…