3 Oil & Gas Stocks Most Sensitive To Oil Price Swings

📆 4/18/2024 5:47 PM
📰 OilandEnergy

⏱ Reading Time:
22 sec. here
6 min. at publisher
📊 Quality Score:
News: 26%
Publisher: 68%

Oil News

Oil Equities. Oil Stocks,Energy,Oil Prices

Apache, Marathon Oil Corp. and Targa Resources were all found to have a strong response to oil price volatility.

Following a strong rally amid escalating tensions in the Middle East, oil prices have pulled back sharply in the current week as demand worries outweigh geopolitical concerns. WTI crude for May delivery has declined 5.1% from the Friday close to trade at $83.15 per barrel while Brent crude June contract has retreated 4.9% to change hands at $87.50, marking the first time it has slipped under $90 in more than a week.

At a time when the oil sector has been rallying, APA stock has managed to decline nearly 20% over the past 12 months, and was the most shorted energy name in March. That said, back in January, Fitch affirmed its 'BBB- credit rating for APA Corp, saying, “The $4.5 billion acquisition of Permian pure play Callon Petroleum should improve APA Corp's business profile by adding scale to the company's Permian operations.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil tops $90 and stocks tumble as Middle East tensions jolt marketsS&P 500 closes down 1.2% in worst finish since mid-February and investors rush into Treasuries
Source: FT - 🏆 113. / 51 Read more »

Oil Industry Executives Say Oil Demand Is Beating ForecastsOil industry leaders are revising oil demand growth forecasts upwards due to stronger than expected consumption across all economies.
Source: OilandEnergy - 🏆 34. / 68 Read more »