La ligne téléphonique n’est pas disponible pour le moment.Pour toute demande veuillez envoyer un email a support@advfn.fr

Energy Stocks Diverge From Oil Prices--Update

Date : 25/06/2019 @ 23h40
Source : Dow Jones News
Valeur : Chevron Corp. (CVX)
Cours : 125.33  -0.39 (-0.31%) @ 16h42
Chevron Cours Graphique

Energy Stocks Diverge From Oil Prices--Update

Chevron (NYSE:CVX)
Graphique Historique de l'Action

1 Mois : De Juin 2019 à Juil 2019

Plus de graphiques de la Bourse Chevron
By Jessica Menton 

Energy shares are sliding this week despite oil's climb -- a divergence some analysts say could linger if geopolitical tensions in the Middle East continue to escalate.

The relationship between oil prices and shares of oil-producing companies has weakened recently after Iran shot down a U.S. military drone last week. Shares of energy companies in the S&P 500 fell 0.8% Tuesday and are down 1.7% so far this week. The sector has shed 5.5% this quarter, on pace for its worst quarterly percentage drop since the broader-market selloff in the final three months of 2018.

Energy stocks in the S&P 500 have shed 15% over the past 12 months amid fears of oversupply and worries about slowing demand in a weakening global economy.

The most recent declines come as U.S. crude prices have rallied roughly 9% over the past week amid rising friction between Washington and Tehran, though oil prices pulled back from multiweek highs Tuesday.

"Investors are looking through the recent strength in oil prices because they don't buy that the recent geopolitical tensions will shoot oil materially higher, or the idea that demand for crude will remain at steadfast levels," said Mike Tran, managing director and global energy strategist at RBC Capital Markets.

Declines in shares of oil conglomerates Exxon Mobil Corp. and Chevron Corp. weighed on the energy sector Tuesday, falling 0.9% and 1%, respectively. Each have lost more than 1% this week.

Meanwhile, oil-field services companies have also been among the hardest hit this week within the S&P 500's energy sector, a corner of the energy market that has been vulnerable as crude production has slowed, some analysts said. Shares of Baker Hughes and Halliburton Co. have shed at least 1.5% this week and were mildly lower Tuesday.

The slide may not last, however, if the U.S. and Iran don't reach a detente soon.

"As geopolitical tensions escalate and there's risk that gets priced back into oil prices, it'll be something that equity investors just simply can't ignore," Mr. Tran said.

Write to Jessica Menton at Jessica.Menton@wsj.com

 

(END) Dow Jones Newswires

June 25, 2019 17:25 ET (21:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Dernières Valeurs Consultées
EU
GLE
Société Gé..
EU
ALU
ALCATEL-LU..
EU
PX1
CAC 40
ORA
Orange
FX
EURUSD
Euro vs Do..
Les dernières valeurs consultées apparaîtront dans cette boîte, vous permettant de choisir facilement les titres vus auparavant.


Inscrivez-vous maintenant pour créer votre liste d'actions personnalisée, en streaming.

Les cours EURONEXT (CAC 40, etc. ) et FOREX (les devises) sont en direct si connecté.
NYSE, AMEX, et ASX sont en différé d'environ 20 minutes. Les autres cours sont en différé d'environ 15 minutes.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Conditions Générales

P: V:fr D:20190716 14:57:53