US EditionWhy Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) Stocks Are Trading Higher Today
- Crude oil prices fell steeply due to worries about a trade war's impact on global growth.
- President Trump's announcement of sweeping tariffs on April 2 triggered concerns about economic growth.
- Brent crude prices dropped more than 20% in one week, reaching a four-year low before recovering.
- Analysts at Morgan Stanley calculated average budget assumptions of $69 across projections.
- Lower oil prices benefit importing countries but could strain budgets for exporting nations, possibly slowing projects.
13 Articles
13 Articles
Why Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) Stocks Are Trading Higher Today
Oil stocks haven’t been the best performers this year, but they’ve been surprisingly resilient. The economy is on shaky ground with plenty of uncertainty. This is usually the time when oil and gas stocks go down in anticipation of a broader slump that could eat into their profits. Of course, these stocks have trended down along with the rest of the market, but not to the degree of tech stocks. What’s even more unusual is that ExxonMobil (NYSE:XO…
Oil Prices Reverse Gains as Traders Take a Break
Crude oil prices moved lower earlier today while traders took a step back to assess the situation and how deeply Trump’s tariffs would affect economic growth prospects and the global oil demand outlook. Later in the day, however, prices may yet rebound after China reported stronger than expected GDP growth during the first quarter, a day after reporting a strong rise in crude oil imports in March. At the time of writing, Brent crude was trading …
US tariffs weigh on oil economies
A steep drop in crude oil prices largely due to US President Donald Trump's tariffs will squeeze budgets of emerging market oil exporters, analysts said, while the potential economic slowdown could also curb any benefits for importers. Concerns about the impact of a tit-for-tat trade war on global growth and demand for oil sent Brent crude prices plummeting by more than 20% within a week to a four-year low after Trump announced his sweeping tari…
Brent Crude Oil Drops To $64.49 Amid Slowing Demand And Trade Uncertainty
Global oil prices declined on Tuesday as concerns over weakening demand and ongoing trade tensions between the United States and China weighed on market sentiment. Brent crude oil, against which Nigerian oil is priced, dropped by 18 cents to $64.49 per barrel while West Texas Intermediate fell by 16 cents to $61.17 per barrel. The […] The post Brent Crude Oil Drops to $64.49 Amid Slowing Demand and Trade Uncertainty appeared first on Investors K…
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