On July 18, Equinor rose 3.73% in regular trading, trading at $37.015/share, with turnover of $76.96 million, leading the Integrated Oil & Gas sector.
On the news front, geopolitical tensions around the Strait of Hormuz escalated again, with oil flow through the strait dropping to approximately 70% of normal levels. Persian Gulf crude output remains over 10 million barrels per day below pre-conflict levels, pushing Brent crude back toward $80 per barrel. Goldman Sachs warned that tanker attacks have deterred shipping operators, and the termination of the temporary peace deal along with the revocation of Iran oil waivers further tightened supply expectations.
Additionally, Equinor is scheduled to report Q2 earnings on July 22, with consensus EPS estimate at $1.38. The company significantly beat expectations last quarter with adjusted EPS of $1.48 versus an estimate of $1.01, providing additional support for the stock ahead of the upcoming report.
Within the Integrated Oil & Gas sector, Shell rose 2.05%, Petroleo Brasileiro gained 2.58%, Exxon Mobil climbed 1.58%, Chevron advanced 1.28%, and Occidental added 1.21%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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