Shares of oil and gas stocks are trading lower despite Middle East tensions. Weak US economic data may be weighing on demand outlook.
Portfolio Pulse from Benzinga Newsdesk
Shares of oil and gas stocks are trading lower despite Middle East tensions, likely due to weak US economic data impacting demand outlook.
August 02, 2024 | 5:50 pm
News sentiment analysis
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NEGATIVE IMPACT
APA Corporation's stock is trading lower despite geopolitical tensions in the Middle East, likely due to weak US economic data affecting demand outlook.
Weak US economic data is likely overshadowing the potential positive impact of Middle East tensions on oil prices, leading to a decline in APA's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ConocoPhillips shares are trading lower despite Middle East tensions, likely due to weak US economic data impacting demand outlook.
The weak US economic data is likely causing concerns about future demand, leading to a decline in ConocoPhillips' stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Devon Energy's stock is trading lower despite geopolitical tensions in the Middle East, likely due to weak US economic data affecting demand outlook.
Weak US economic data is likely overshadowing the potential positive impact of Middle East tensions on oil prices, leading to a decline in Devon Energy's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Occidental Petroleum shares are trading lower despite Middle East tensions, likely due to weak US economic data impacting demand outlook.
The weak US economic data is likely causing concerns about future demand, leading to a decline in Occidental Petroleum's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Schlumberger's stock is trading lower despite geopolitical tensions in the Middle East, likely due to weak US economic data affecting demand outlook.
Weak US economic data is likely overshadowing the potential positive impact of Middle East tensions on oil prices, leading to a decline in Schlumberger's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80