Tiger Brokers

BUZZ-Oil stocks gain as investors cover short positions

Reuters
Apr 22
BUZZ-Oil stocks gain as investors cover short positions

** U.S.-listed shares of oil firms rise premarket, tracking prices of oil O/R

** Brent crude futures LCOc1 up 1.4% at $67.16/barrel and U.S. West Texas Intermediate crude CLc1 rise 1.5% to $64.05 a barrel

** Oil prices rose as investors took advantage of the previous day's losses to cover short positions, although concerns persisted over economic headwinds from tariffs and U.S. monetary policy that could dampen fuel demand

** Energy majors Exxon XOM.N and Chevron CVX.N up ~1% and 1.3%, respectively

** Occidental Petroleum OXY.N and Diamondback Energy FANG.O up 1.7% each, EOG Resources EOG.N up 1.4% and ConocoPhillips COP.N up 1.8%

** Refiners Valero Energy VLO.N and Marathon Petroleum MPC.N up 1% and 1.8%, respectively

** Oilfield services SLB SLB.N and Halliburton HAL.N up 1.2% each

(Reporting by Katha Kalia in Bengaluru)

((Katha.Kalia@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10