LONDON -- Oil prices have grown progressively stronger this week as markets respond to reassuring Chinese growth figures and the prospect of further economic stimulus for Asia's biggest economy. Tightened U.S. sanctions against Iran are also helping to keep crude prices firm, as Iran's oil exports have been reduced dramatically from pre-sanction levels.
The result of all this is that the United States Oil Fund
However, solid oil and gas prices weren't enough to protect the share prices of some small oil and gas companies, which plunged dramatically. Here are three of this week's worst performers.
BowLeven plunged 14% this week as traders discovered that last week's rumor of a takeover by Tullow Oil was just that -- an apparently unfounded rumor. The company's share price has now returned to its former level of around 60 pence, as there have been no updates from the West Africa-focused group since April.
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Roland owns shares in BowLeven but does not own any other shares mentioned in this article. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.