Shares of oil and gas companies are trading higher amid a rise in the price of oil after the Fed cut rates, which could lift the demand outlook. Also, ongoing tension in the Middle East could increase supply
Portfolio Pulse from Benzinga Newsdesk
Oil and gas stocks are rising due to increased oil prices following a Fed rate cut and Middle East tensions potentially affecting supply.

September 19, 2024 | 4:49 pm
News sentiment analysis
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POSITIVE IMPACT
Baker Hughes (BKR) shares are likely to benefit from the rise in oil prices due to increased demand outlook and potential supply disruptions.
BKR, as an oilfield services company, benefits from higher oil prices which can lead to increased exploration and production activities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Canadian Natural Resources (CNQ) is likely to see a positive impact on its stock price due to rising oil prices.
As a major oil producer, CNQ benefits directly from higher oil prices, improving revenue prospects.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
ENGlobal (ENG) shares may rise with the increase in oil prices, improving the demand for its engineering services.
ENG provides engineering services to the oil and gas industry, which could see increased demand with higher oil prices.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
EQT Corporation (EQT) could see a positive impact on its stock price due to the rise in oil prices.
EQT, as a natural gas producer, may benefit from the overall positive sentiment in the energy sector due to rising oil prices.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Diamondback Energy (FANG) shares are likely to benefit from the rise in oil prices.
FANG, as an oil and gas exploration company, directly benefits from higher oil prices, which can boost its revenue.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TechnipFMC (FTI) shares may rise with the increase in oil prices, improving the demand for its services.
FTI provides technology and services to the oil and gas industry, which could see increased demand with higher oil prices.
CONFIDENCE 80
IMPORTANCE 55
RELEVANCE 65
POSITIVE IMPACT
Schlumberger (SLB) shares are likely to benefit from the rise in oil prices due to increased demand for oilfield services.
SLB, as a leading oilfield services company, benefits from higher oil prices which can lead to increased exploration and production activities.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Texas Pacific Land Corporation (TPL) could see a positive impact on its stock price due to rising oil prices.
TPL, which holds land and mineral rights, benefits from higher oil prices as it can increase the value of its assets.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Woodside Energy Group (WDS) shares are likely to benefit from the rise in oil prices.
WDS, as an oil and gas producer, directly benefits from higher oil prices, which can boost its revenue.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75