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Ensco (ESV) Stock Slips as Oil Prices Drop

NEW YORK (TheStreet) -- Shares of Ensco (ESV) were down 5.74% to $8.21 early Monday afternoon as oil prices retreated.

Crude oil (WTI) was down 2.95% to $47.09 per barrel while Brent crude fell 3.03% to $49.34 per barrel.

A report from China earlier today revealed that the country's exports in diesel and gasoline grew by 181.8% and 145.2% year-over-year respectively in July, rekindling concerns over a global oversupply, CNBC reports.

Also, on Friday the Baker Hughes (BHI) weekly rig count showed that U.S. drillers added 10 oil...