Oil and Gas Equities Mainly in the Red this Week

The shares of the major oil and gas producers moved mostly in the red this week. This could be mainly due to the general market sentiment, as all major U.S. indexes have experienced a downturn this year. The S&P 500 was down 5.18% this week (-8.31% YTD), the DOW was down 4.81% this week (-6.34% YTD) and the NASDAQ was down 6.38% (-13.04% YTD).

It doesn’t help that crude oil prices have climbed to their highest level in 7 years. WTI crude oil closed this week at $84.84 per barrel. BRENT crude oil closed at $87.74 per barrel. This brings oil prices close to the $90 mark again. What pushed the oil prices towards the end of the week were also the U.S. crude oil inventory which had unexpectedly increased last week by 500k barrels.

The large oil producers had to therefore also partially weaken this week, but remain YTD mostly in double-digit plus. Over 1 year, most could make large jumps partly over 50%.

NameTickerPrice%YTDWeek %% 1Y
BPBP$30.7115.32%-1.63%27.85%
Exxon MobileXOM$72.1717.94%2.18%50.01%
Chevron CorporationCVX$126.918.15%0.09%37.93%
Cenovus EnergyCVE$14.0514.41%-2.36%129.20%
Canadian Natural Res.CNQ$50.7920.21%1.03%106.13%
ConocoPhillipsCOP$82.7214.60%-1.08%91.53%
Marathon PetroleumMPC$70.7010.49%-3.31%55.76%
Suncore EnergySU$27.078.15%-2.87%49.23%
Phillips 66PSX$83.4415.15%-3.85%14.05%
Royal Dutch ShellRDS-A$48.6512.10%-1.20%22.39%
TotalEnergies SETTE$55.6312.47%0.20%25.89%
Enbridge Inc.ENB$40.814.43%-2.25%16.43%
TC Energy CorporationTRP$50.097.63%-1.59%10.60%
Duke Energy Corp.DUK$102.98-1.83%-1.12%14.19%
Southern CompanySO$67.81-1.12%-0.79%13.24%
January 22, 2022

Chevron Corporation (CVX) will report Q4 2021 quarterly results next week, which investors should watch for.

The data mentioned here in this article are freely chosen by Naturaldeposit, without the influence of any third party.
The article is for informational purposes only and should not be considered investment advice or a recommendation to invest in any security or to use any investment strategy. Although we assume that the information contained herein is reliable, we do not guarantee its accuracy, completeness, or typographical errors. Our content may not be appropriate for all investors. The data in our content is reflected as of the date o
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