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Chevron, Exxon Mobil Lag Crude Oil on Declining Momentum in the Energy Sector

Remember when the ups and downs of Nymex crude oil correlated with the ups and downs of the stock market? This dynamic was a characteristic of the stock market for most of 2016. This abruptly ended when Donald J. Trump was elected president on Nov. 8.

One of President Trump's pledges was to remove regulations against the fossil fuel industry. Coal miners will be producing clean coal, the Keystone Pipeline will be built, and oil and gas drillers are...