Is $100 Oil On The Horizon? Industry Experts Say Yes, Here's Why
Portfolio Pulse from Piero Cingari
Crude oil prices are surging, with experts predicting a barrel of oil could hit $100. Price premiums for physical oil barrels are increasing globally due to rising diesel demand. Chevron Corp. CEO Mike Wirth expressed confidence in oil reaching $100 a barrel. Over the last three months, energy stocks represented by the Energy Select Sector SPDR Fund have outperformed the Technology Select Sector SPDR Fund by 20%. Exxon Mobil Corp. has also outperformed Apple Inc.
September 18, 2023 | 7:06 pm
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POSITIVE IMPACT
Chevron Corp. CEO expressed confidence in oil reaching $100 a barrel, which could boost the company's stock.
The bullish outlook on oil prices from Chevron's CEO could increase investor confidence in the company, potentially driving up its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Energy stocks represented by the Energy Select Sector SPDR Fund have outperformed the Technology Select Sector SPDR Fund by 20% over the last three months.
The outperformance of energy stocks, represented by XLE, over tech stocks could attract more investors to the sector, potentially driving up the price of XLE.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Exxon Mobil Corp. has outperformed Apple Inc. over the last three months.
The outperformance of Exxon Mobil over Apple could increase investor confidence in the company, potentially driving up its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Apple Inc. has been outperformed by Exxon Mobil Corp. over the last three months.
The underperformance of Apple compared to Exxon Mobil could lead to a decrease in investor interest, potentially driving down the price of AAPL.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The Technology Select Sector SPDR Fund has been outperformed by energy stocks over the last three months.
The underperformance of tech stocks, represented by XLK, compared to energy stocks could lead to a decrease in investor interest, potentially driving down the price of XLK.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70