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.
Oil Equities. Oil Stocks Energy Oil Prices Price Volatility
Australia Latest News, Australia 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
Read more »
Oil Prices Under Pressure As U.S. Crude Oil Inventories ClimbCrude oil inventories in the United States rose this week by 9.337 million barrels for the week ending March 22
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.
Read more »
Anti-Oil Activists Up Their Game Against Insurers Of Big OilThe threat of reputation damage is unlikely to be enough to make that industry use its superpower to kill oil and gas.
Read more »
OEUK: Labour's oil and gas plans could make UK 'uninvestable'LABOUR’S oil and gas tax plans could see the UK ' move towards being uninvestable,' the offshore energy trade organisation has warned.
Read more »
Labour oil and gas plans could make UK ‘uninvestable’, says trade bodyOEUK released a report showing as much as £450 billion in investment was up for grabs by 2040.
Read more »