Unfortunately for its shareholders, the Worleyparsons Limited (ASX: WOR) share price isn't having a great day.
In morning trade the shares of the professional services company are down almost 3% to $11.91.
Today's decline is likely to be attributable to news that oil prices dropped to a seven-month low overnight.
According to Bloomberg, oil prices fell after U.S. government data showed a smaller-than-expected weekly decline in domestic supplies, as well as an increase in gasoline stockpiles and crude production.
Unsurprisingly this news has also weighed heavily on the shares of oil and gas producers Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH).
But low oil prices aren't bad news for all shares on the local share market. They could be a big win for companies like Qantas Airways Limited (ASX: QAN) and its airline rivals.
