Why are ASX 200 energy shares getting smashed in May?

MotleyFool05-02

S&P/ASX 200 Index (ASX: XJO) energy shares have had a tough start to the new month. With about an hour left before the closing bell sounds the end of the second day of trade in May, the ASX 200 is ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy are ASX 200 energy shares getting smashed in May?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-02 13:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com.au/2024/05/02/why-are-asx-200-energy-shares-getting-smashed-in-may/><strong>MotleyFool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>S&P/ASX 200 Index (ASX: XJO) energy shares have had a tough start to the new month.\nWith about an hour left before the closing bell sounds the end of the second day of trade in May, the ASX 200 is ...</p>\n\n<a href=\"https://www.fool.com.au/2024/05/02/why-are-asx-200-energy-shares-getting-smashed-in-may/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7507","symbol_name":"资源股","start_time":0,"source_url":"https://www.fool.com.au/2024/05/02/why-are-asx-200-energy-shares-getting-smashed-in-may/","article_id":"2432510612","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432510612","pubTimestamp":1714626715,"sourceInfo":{"source_id":"motleyfoolau_stock","name":"MotleyFool"},"weMediaInfo":null,"summary":"S&P/ASX 200 Index energy shares have had a tough start to the new month.With about an hour left before the closing bell sounds the end of the second day of trade in May, the ASX 200 is down 0.7%.As for the big energy stocks, here's how they've performed over the two days since the end of April:. Woodside Energy Group Ltd  shares are down 4.2%. Why are ASX 200 energy shares getting walloped?The big fall so far in May for these ASX 200 energy shares is being driven by a tumbling oil price.The oil price, and by extension ASX 200 energy shares, came under renewed pressure overnight after the United States Energy Information Administration  reported that US crude stockpiles increased by 7.3 million barrels last week. This widely exceeded consensus expectations.As to what investors in ASX 200 energy shares can expect from the oil price next, Vandana Hari, founder of Vanda Insights said :. In potentially good news for ASX 200 energy shares, a number of analysts believe we're pretty much at a ","collect":0,"end_time":0,"defaultTopTitle":"fool.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7507":"资源股","STO.AU":"SANTOS LIMITED","EIA":"Eaton Vance California Municip","WDS.AU":"WOODSIDE ENERGY GROUP LTD","BK7142":"石油与天然气的勘探与生产","BPT.AU":"BEACH ENERGY LTD","XJO.AU":"标普/澳交所 200指数"},"translate_title":"为什么ASX 200能源股在5月份暴跌？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BPT.AU":1,"EIA":1,"STO.AU":1,"WDS.AU":1,"XJO.AU":1},"content_text":"S&P/ASX 200 Index (ASX: XJO) energy shares have had a tough start to the new month.\nWith about an hour left before the closing bell sounds the end of the second day of trade in May, the ASX 200 is down 0.7%.\nAs for the big energy stocks, here's how they've performed over the two days since the end of April:\n\nWoodside Energy Group Ltd (ASX: WDS) shares are down 4.2%\nSantos Ltd (ASX: STO) shares are down 3.06%\nBeach Energy Ltd (ASX: BPT) shares are down 3.2%.\n\nHere's what's dragging on the energy sector.\nWhy are ASX 200 energy shares getting walloped?\nThe big fall so far in May for these ASX 200 energy shares is being driven by a tumbling oil price.\nBrent crude oil dipped to US$83.54 per barrel earlier today before edging back to US$83.90 per barrel at time of writing. That's down from US$91.17 per barrel on 6 April.\nIt's a similar story with West Texas Intermediate crude oil. WTI has fallen below US$80 and is trading for $79.98 per barrel.\nThe oil price, and by extension ASX 200 energy shares, came under renewed pressure overnight after the United States Energy Information Administration (EIA) reported that US crude stockpiles increased by 7.3 million barrels last week. This widely exceeded consensus expectations.\n\"Demand concerns came into the limelight for oil traders as EIA data showed a surge in crude stockpiles and Fed chair Powell hinted at the delay in starting the easing cycle,\" Charu Chanana, head of FX strategy at Saxo Capital Markets said (quoted by Bloomberg).\nIndeed, atop the unexpected increase in US stockpiles, the prospect of higher interest rates for longer in the world's top economy and other developed nations could portend lower fuel demand than markets have previously been pricing in.\nThe most welcome easing of tensions in the Middle East recently has also seen traders pull back bets that a wider regional conflict could upend oil supplies.\nAs for the supply side, a Bloomberg survey revealed that some OPEC members are cheating on their production cut pledges. Both Iraq and the United Arab Emirates were reportedly producing \"several hundred thousand barrels a day\" more than they agreed to.\nNow what?\nAs to what investors in ASX 200 energy shares can expect from the oil price next, Vandana Hari, founder of Vanda Insights said (quoted by Reuters):\n\nAs the impact of the US crude stock-build and the Fed signalling higher-for-longer rates is close to being fully baked in, attention will turn towards the outcome of the Gaza talks.\n\nIn potentially good news for ASX 200 energy shares, a number of analysts believe we're pretty much at a bottom with today's oil price.\nThat's partly because the US federal government previously stated the nation would likely restock its massive strategic reserves if WTI falls below US$79 per barrel. The US drew down its oil stockpiles in 2022 to tamp down oil prices, after Brent crude soared to more than US$122 per barrel.\n\"The oil market was supported by speculation that if WTI falls below $79, the US will move to build up its strategic reserves,\" said Hiroyuki Kikukawa, president of NS Trading.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432510612"}