U.S. energy secretary’s former company crushed by oil sell-off after Trump tariff escalation

Liberty Energy shares plummeted nearly 30% in two days, led by heavy selling pressure on the oilfield services company co-founded by Energy Secretary Chris Wright. The stock dropped 13.8% as of 11:00 a.m. ET, one of the sharpest declines in U.S. energy services stocks recently, coinciding with benchmark U.S. crude falling to near $60 a barrel. The decline could impact U.S. shale production and supply growth, potentially leading to reduced drilling activity in Texas and Louisiana.

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