Shares of energy stocks are trading lower as oil falls despite a draw in crude inventories. Energy prices may be under pressure amid macro concerns after Fitch downgraded the US credit rating.
Portfolio Pulse from Benzinga Newsdesk
Energy stocks are trading lower as oil prices fall, despite a draw in crude inventories. This is potentially due to macro concerns following Fitch's downgrade of the US credit rating.
August 04, 2023 | 11:49 am
News sentiment analysis
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NEGATIVE IMPACT
APA's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, APA's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on APA's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
BPT's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, BPT's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on BPT's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
CNQ's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, CNQ's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on CNQ's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
DVN's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, DVN's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on DVN's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
OXY's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, OXY's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on OXY's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PSX's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, PSX's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on PSX's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PUMP's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, PUMP's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on PUMP's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
TTE's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, TTE's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on TTE's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
WDS's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, WDS's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on WDS's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
WTI's stock is likely to be negatively impacted by the fall in oil prices and the downgrade of the US credit rating by Fitch.
As an energy company, WTI's stock price is closely tied to oil prices. The fall in oil prices, coupled with macroeconomic concerns due to the US credit rating downgrade, is likely to put downward pressure on WTI's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80