Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

What's Going On With Chevron, Diamondback Energy And Occidental Petroleum Shares Today?

Published 22/06/2022, 20:16
Updated 22/06/2022, 21:10
© Reuters.  What's Going On With Chevron, Diamondback Energy And Occidental Petroleum Shares Today?

Chevron Corporation (NYSE: NYSE:CVX), Diamondback Energy Inc (NASDAQ: FANG) and Occidental Petroleum Corporation (NYSE: NYSE:OXY) are all trading lower Wednesday. Shares of energy companies at large are trading lower amid a dip in oil prices following reports President Biden may suspend the federal tax on gasoline.

Shares of oil stocks have seen marked volatility in recent months due to supply concerns. Energy names have been volatile amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.

The Russia-Ukraine conflict has caused volatility in the broader energy sector and put pressure on some countries to become less dependent on Russian gas.

Shares of several energy companies were also trading lower last week amid a decline in the price of oil as the Federal Reserve’s decision to hike rates raises concern of an economic slowdown which may lower demand for energy.

See Also: Why Exela Technologies Shares Are Popping Off Today

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.