Thursday is proving to be a rough session for the Beach Energy Ltd (ASX: BPT) share price.
The oil and gas producer is sinking alongside the value of the black liquid.
The Beach Energy share price is trading at $1.64 at the time of writing. That's 1.8% lower than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) is trading higher today, gaining 0.89% right now.
Let's take a closer look at what's going wrong for the ASX 200 energy giant's stock.
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Beach Energy share price tumbles alongside oil
The Beach Energy share price is suffering alongside many of its ASX 200 peers today after energy commodity prices tanked overnight.
The S&P/ASX 200 Energy Index (ASX: XEJ) is down 3.67% right now, with Beach Energy coming in as its second-worst performer.
Taking the unfortunate lead is none other than Woodside Energy Group Ltd (ASX: WDS). Its share price has plummeted 6.42% right now.
Their suffering follows a disastrous night for oil prices.
The Brent crude oil price fell 5.2% to US$88 a barrel while most of Australia slept – marking a new seven-month low.
Meanwhile, the US Nymex crude oil price dumped 5.7% to hit US$81.94 a barrel – its lowest point since January.
The downturn was driven by recession concerns bolstered by disappointing Chinese trade data, Reuters reports.
It was reportedly worsened by a strengthening of the US dollar against the Japanese yen and the pound sterling. That makes oil more expensive for those trading in the currencies.
Joining the Beach Energy share price in the red today are fellow energy shares Santos Ltd (ASX: STO), Worley Ltd (ASX: WOR), and Viva Energy Group Ltd (ASX: VEA). They've fallen 1.3%, 0.75%, and 0.36% respectively.
Most other ASX 200 energy shares are trading in the green at the time of writing.
