Oil posted the worst weekly loss since the early months of the coronavirus pandemic as banking turmoil poisoned investor sentiment.
West Texas Intermediate lost nearly 13% this week, the largest drop in almost three years. The failure of Silicon Valley Bank and troubles at Credit Suisse Group AG drove investors from risk assets, with oil-options covering accelerating the selloff.
“Crude action this week reminded many of how quickly the commodity can be decimated by macro economic events,” ....
20 Mar 2023
Cenkos: Oil & Gas Sector -- Tethys Oil, IOG, Hurricane Energy, Saudi Aramco, Reabold Resources, Arrow Exploration, Maurel et Prom, Equinor ASA, DNO ASA, Genel Energy, Shell
Falcon Oil & Gas Ltd. (FOG:LON), 6.6 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 8.5 | Diversified Energy Company PLC (DEC:LON), 1,079 | Empyrean Energy PLC (EME:LON), 0.5 | GETECH Group plc (GTC:LON), 8.5 | Trinity Exploration & Production Plc (TRIN:LON), 39.0 | Tethys Oil AB (TETY:OME), 0
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Cenkos: Oil & Gas Sector -- Tethys Oil, IOG, Hurricane Energy, Saudi Aramco, Reabold Resources, Arrow Exploration, Maurel et Prom, Equinor ASA, DNO ASA, Genel Energy, Shell
Falcon Oil & Gas Ltd. (FOG:LON), 6.6 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 8.5 | Diversified Energy Company PLC (DEC:LON), 1,079 | Empyrean Energy PLC (EME:LON), 0.5 | GETECH Group plc (GTC:LON), 8.5 | Trinity Exploration & Production Plc (TRIN:LON), 39.0 | Tethys Oil AB (TETY:OME), 0
- Published:
20 Mar 2023 -
Author:
James McCormack -
Pages:
7
Oil posted the worst weekly loss since the early months of the coronavirus pandemic as banking turmoil poisoned investor sentiment.
West Texas Intermediate lost nearly 13% this week, the largest drop in almost three years. The failure of Silicon Valley Bank and troubles at Credit Suisse Group AG drove investors from risk assets, with oil-options covering accelerating the selloff.
“Crude action this week reminded many of how quickly the commodity can be decimated by macro economic events,” ....