Allis-Chalmers falls 12% on lower crude

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Allis-Chalmers Energy Inc. (NYSE:ALY) is down 12% today as the price of crude oil is falling from the record highs it achieved last week. Crude oil is down from the record more than $146 per barrel that it soared to last week ahead of the July 4 holiday – a busy weekend for travelers. Crude slipped down to $141 per barrel today, pushing down shares of Houston-based Allis-Chalmers, which provides services and equipment to oil and natural gas companies. Allis-Chalmers is trading at $14.57 at 2:09 ET, down $2.02 from Friday’s close.

For detailed price information and recent news stories on Allis-Chalmers Energy Inc., click ALY.