🔴 Select Energy Services is trading 4.3% down as oil surges on Hormuz shipping concerns

Select Energy Services is trading at $17.75, down 4.31%, as risk-off sentiment follows oil’s surge on renewed Middle East shipping concerns.

• Reports of damaged tankers in the Strait of Hormuz coincided with U.S. stock declines and higher crude prices.
• No clear company-specific announcement on October 22 explains the decline. Prior-day news included issuance of $900 million in 7.625% senior notes and a Bank of America analyst reiterating a Buy rating with a $28 target; neither source attributes the decline to them.