Shares of oil and gas companies are trading lower amid a drop in the price of crude. Sector weakness may be due to soft demand in Asia and U.S. diplomatic efforts to secure a cease-fire deal in Israel.
Portfolio Pulse from Benzinga Newsdesk
Oil and gas stocks are declining as crude prices fall, influenced by weak demand in Asia and U.S. diplomatic efforts in Israel.
August 20, 2024 | 5:01 pm
News sentiment analysis
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NEGATIVE IMPACT
Chevron's stock may decline as crude prices drop, influenced by weak demand in Asia and geopolitical factors.
Chevron, like other oil majors, is sensitive to crude price fluctuations. The current decrease in prices due to external factors is expected to negatively affect its stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Schlumberger shares may be negatively impacted by the decline in crude prices, affecting the oilfield services sector.
As a leading oilfield services company, Schlumberger's business is closely tied to the health of the oil market. The drop in crude prices is likely to have a negative impact on its stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Valero Energy's stock may face downward pressure due to falling crude prices, influenced by weak demand and geopolitical issues.
Valero Energy, a major refiner, is affected by crude price changes. The current decline due to weak demand and geopolitical tensions is expected to negatively impact its stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Exxon Mobil shares are likely to be impacted by the drop in crude prices, as the company is a major player in the oil and gas sector.
Exxon Mobil, being a major oil and gas company, is directly affected by changes in crude oil prices. The current decline in prices due to weak demand in Asia and geopolitical factors is likely to negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80