Around The Barrel – US Exports of Refined Products All-Time High

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  • #39789
    TradersCom
    Keymaster

    XLE Sector 66.64 -4.6%

    Pressure from a lower price of oil amid ongoing concerns about the strength of global growth. WTI crude is down $3.31, or 3.3%, at $95.19/bbl, returning to a level not seen since early April.

    Extension of a pullback in the best performing sector of the year. Even with this week’s 8.3% loss, energy is the only sector with a year-to-date gain, having climbed 20.2% since the end of 2021.

    Notable movers:

    Diamondback Energy (FANG 106.40, -7.74, -6.8%): weakest performer in the sector, returning to unchanged for the year.
    EOG Resources (EOG 97.89, -6.93, -6.6%): falling to its lowest level since late January. RBC Capital Markets downgraded the stock to Sector Perform from Outperform with a $150 target.
    Marathon Oil (MRO 19.83, -1.30, -6.2%): falling past its 200-day moving average (20.99) to a level not seen since early February.
    Hess (HES 92.46, -5.73, -5.8%): falling past its 200-day moving average (95.25) to a level not seen since mid-March.
    Devon Energy (DVN 49.03, -2.87, -5.5%): falling to its lowest level since late January after finding resistance near its 200-day moving average (52.59).
    Halliburton (HAL 27.41, -1.48, -5.1%): falling to its lowest level since late January.
    Marathon Petroleum (MPC 77.86, -3.88, -4.8%): falling to its lowest level since mid-March with its 200-day moving average (77.08) looming below.
    ConocoPhillips (COP 80.62, -4.02, -4.8%): falling to its lowest level since late January.
    Exxon Mobil (XOM 81.04, -3.77, -4.5%): falling to its lowest level since late April.
    Chevron (CVX 136.88, -5.78, -4.1%): falling past its 200-day moving average (138.68) to a level not seen since late February.
    ONEOK (OKE 53.07, -2.03, -3.7%): best performer in the sector, revisiting yesterday’s low.

    #39769
    TradersCom
    Keymaster

    WTI Oil prices tumbled after July 4 over $10 and 8% to under $100 bbl and has steadied back over $102 after of storage reports. With all the noise aro
    [See the full post at: Around The Barrel – US Exports of Refined Products All-Time High]

    #39824

    with falling GAS prices for last 3 weeks … now to a bargain $4.80 (lol)
    a song of celebration & video features awesome ‘409 CUI Chevys of 1960s 🙂

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