Many energy stocks continue to struggle as some oil company debt sits at distressed levels. Those trends point to tough times in the energy sector continuing, a credit analyst said Tuesday on CNBC.
"We are far from the finish line in this whole story in the energy sector, Oleg Melentyev, head of U.S. credit strategy at Deutsche Bank, told "Power Lunch."
U.S. crude oil has struggled and settled down 3.4 percent at $48.29 per barrel on Tuesday. Plummeting crude prices in the last year have forced oil companies into job and rig cuts even as consumers enjoyed falling gas prices.