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Why Are Oil Stocks XOM, OXY, DVN Down Friday?

InvestorPlace2022-09-24

There are three main reasons to answer the question: "Why are oil stocks down today?"Oil is under pressure due to global recession fears and a rising U.S. dollar -- both of which are bad for energy ...

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  • Rtan11
    ·2022-09-25
    Good news.. i think
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  • PearlynCSY
    ·2022-09-25
    Oil prices down 3% with recession fears in focus. Oil prices plunged about 5% to an eight-month low on Friday as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession, cutting demand for oil.Brent futures were down $4, or 4.4%, to $86.46 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $4.45, or 5.3%, to $79.10.That puts both benchmarks into technically oversold territory and WTI on track for its lowest close since Jan. 10 and Brent on track for its lowest close since Jan. 13.It was the fourth straight week of declines for both benchmarks, the first time this has happened since December. Both were in technically oversold territory, with WTI on track for its lowest settlement since Jan. 10 and
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  • Blueskyyy
    ·2022-09-25
    Ok
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  • Ghostwalker
    ·2022-09-25
    Good
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  • andrew123
    ·2022-09-25
    Great
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  • SPOT_ON
    ·2022-09-25
    Sell
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  • PC21
    ·2022-09-24
    Oil will be back
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    • PC21
      just a matter of time
      2022-09-24
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  • Thomas9413
    ·2022-09-24
    Great 
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  • andrew123
    ·2022-09-24
    Omg
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  • olddirtbag
    ·2022-09-24
    Comment
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  • jimmylaw
    ·2022-09-24
    Like
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    • andrew123
      done.like back
      2022-09-25
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    • Thomas9413
      Good
      2022-09-24
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  • SteadyDoesIt
    ·2022-09-24
    Those still holding onto such investments might want to consider exiting positions as many hedge funds have left
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  • Torres87
    ·2022-09-24
    Ok
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  • jannn
    ·2022-09-24
    [smile] 
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  • Taishu1234
    ·2022-09-24
    Hi
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  • VivianChua
    ·2022-09-24
    👍 
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  • hweeeee
    ·2022-09-24
    👍🏽
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  • J1000
    ·2022-09-24
    K
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    • J1000
      K
      2022-09-24
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