What A Kamala Harris Presidency Could Mean For Oil Stocks: Chevron, Marathon Move Lower
Portfolio Pulse from Surbhi Jain
Oil stocks fell amid concerns that Vice President Kamala Harris could take a tougher stance on the oil and gas industry if she becomes the Democratic presidential nominee and wins the race for the White House. Chevron, Marathon Oil, Exxon Mobil, ConocoPhillips, and EOG Resources saw declines. ETFs tied to the oil sector also mirrored this downward trend, while renewable energy ETFs traded in the green, reflecting optimism about a potential shift towards clean energy under a Harris administration.
July 22, 2024 | 3:51 pm
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NEGATIVE IMPACT
ConocoPhillips's stock slipped by 1.17% due to concerns over Kamala Harris's potential tougher stance on the oil industry.
ConocoPhillips's stock decline is directly linked to investor concerns about potential stricter regulations and higher compliance costs under a Harris administration.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Chevron Corp's stock fell by 0.69% amid concerns over Kamala Harris's potential tougher stance on the oil industry.
Chevron's stock decline is directly linked to investor concerns about potential stricter regulations and higher compliance costs under a Harris administration.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
EOG Resources, Inc.'s stock saw a drop of 0.72% amid concerns over Kamala Harris's potential tougher stance on the oil industry.
EOG Resources's stock decline is directly linked to investor concerns about potential stricter regulations and higher compliance costs under a Harris administration.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The iShares U.S. Energy ETF declined by 0.27% as oil stocks fell amid concerns over Kamala Harris's potential tougher stance on the oil industry.
IYE's decline is linked to the overall drop in oil stocks due to investor concerns about potential stricter regulations under a Harris administration.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Marathon Oil Corp's stock fell by 0.97% due to concerns over Kamala Harris's potential tougher stance on the oil industry.
Marathon Oil's stock decline is directly linked to investor concerns about potential stricter regulations and higher compliance costs under a Harris administration.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Vanguard Energy Index Fund ETF Shares fell by 0.19% as oil stocks declined amid concerns over Kamala Harris's potential tougher stance on the oil industry.
VDE's decline is linked to the overall drop in oil stocks due to investor concerns about potential stricter regulations under a Harris administration.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Energy Select Sector SPDR Fund ETF fell by 0.23% as oil stocks declined amid concerns over Kamala Harris's potential tougher stance on the oil industry.
XLE's decline is linked to the overall drop in oil stocks due to investor concerns about potential stricter regulations under a Harris administration.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Exxon Mobil Corp's stock decreased by 0.15% amid concerns over Kamala Harris's potential tougher stance on the oil industry.
Exxon Mobil's stock decline is directly linked to investor concerns about potential stricter regulations and higher compliance costs under a Harris administration.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund ETF rose by 1.11% as investors showed optimism about a potential shift towards clean energy under a Harris administration.
GRID's rise is linked to investor optimism about increased support for renewable energy initiatives under a potential Harris administration.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The iShares Global Clean Energy ETF rose by 0.51% as investors showed optimism about a potential shift towards clean energy under a Harris administration.
ICLN's rise is linked to investor optimism about increased support for renewable energy initiatives under a potential Harris administration.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80