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Energy stocks led by Halliburton, APA top S&P losers as oil prices crushed

Data analyzing in commodities energy market: the charts and quotes on display. US WTI crude oil price analysis. Stunning price drop for the last 20 years.

SlavkoSereda/iStock via Getty Images

Energy company shares (NYSEARCA:XLE) fell by the most of any S&P sector on Tuesday, as ramped up recession fears connected with concerns over weakening demand, outweighing a fundamentally tight supply market and pushed U.S. crude oil below $100/bbl

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The strategic oil reserve release will end soon enough, and that's 1 mil barrels per day oil off the market forever. What's a few months wait. Contrary to what people believe that the market is forward looking, it's only manipulation looking by the big players. All is my opinion.
I sure am glad to see oil stocks dropping further and further. I bet no one believe me still even now. Gasoline $3.97 by Christmas.
Rex Rode profile picture
@better investing depends on the state. Last month, I paid $4.29 a gallon in Sedona, AZ
Oil below $100!! President Biden and his team are certainly doing an excellent job ;).
thebellsareringing profile picture
Attacking fossils by a fossil without a realistic replacement is fuelish and stupid. So here we are with a man made problem and good jobs vaporized.
magellan1947 profile picture
The oil companies have been burned in the past and aren't about to overextend themselves this time. None of 'em are going to fall on their knife for this administration. Great to see them strengthening their finances after several bad years.
brettze profile picture
@magellan1947 They had those bad years because they thought they could overproduce to quell the renewable energy growth through lower oil prices through "oversupply" only to find that OPEC was not cooperating with corresponding oil production cuts there. then all heck broke loose. our EXxons Chevrons OXYs lost billions yet they came back from the dead and bankrupt .. We splurged toomuch on gasoline and the thanks we got from them ???? $6 gasoline.
So I urge people to cut back gas/diesel pruchases 20% until Exxons Chevrons and Oxys are put back in their doghouses..
Pepsiguy5 profile picture
@brettze Yeah... thats how it worked.
brettze profile picture
@Pepsiguy5 you will cut back your gasoline purchases 20% ?
if so, thanks!
Uain53 profile picture
So Biden sets the table for inflation by cancelling Keystone on his first day. This eliminates a stable supply of heavy crude from Canada, which blended with Williston Basin Light crude would flow through the pipes to Gulf Coast refineries. Now USA needs to find heavy crude replacements shipped from overseas. This destabilizes oil futures market and results in ever climbing crude prices since Jan 2021. Add to that the debacle in Ukraine caused by US/EU reckless expansion of NATO and shoot yourself in the foot sanctions and here we are.
Germany has about 43 million workers. If they can’t evade sanctions and get gas supplies, 1.2 millions workers willoose jobs just in petro-chem industry. Now unemployment goes from 5% to 7+%. And thats just the beginning. Yes, expect a slow down in Europe that spreads to US this fall.
bill h illify profile picture
“Sure as h*** beats working on the docks!”
Winnertakesall profile picture
I added today, I don't think oil is going anywhere but up. I can't think of anything more reckless than Biden draining our strategic oil reserves in the middle of a war just so he can win an election.
brettze profile picture
@Winnertakesall We the People can cut back our normal gas/diesel purchases 20% without undue hardships.. many is just the worst gasohoics that can be told to cut even more. Even those dividend aristrocrat gasoholics are not thrilled with the gas prices today. so what is the point about letting or watching gas prices keep going up ? We the People can control gasoline/diesel prices ourselves without any need to vote for our favorite politicians. Our poltiicans like us to think that they are doing something about it which is not true.
We the People can cut down !
without harming our economy.
We simply waste too much needlessly!
WE the People will find ways to cut back!
the oil industry must obey the People!
@Winnertakesall i feel better about my XLE position having seen youre in it as well lol
"WE the people are not paying for those posters......" If you have a problem, get Travis.....
brettze profile picture
Just stop buying gasoline/diesel you dont need !! Stop silly driving !! manage your energy usage! Be wise! Oil is politics ... the more you buy gasoline the more powerful the oil lobby and its polticians usually Republicans .. I dont discount liberals Some liberals are pure hypocrites themselvese.. it doesnt matter which party will lose the most if we stop buying too much gasoline/diesel.. All the poltical dust will eventuall y settle. Republicans will learn to love reenwable energy. the oil lobby will be relegated from K Street to a lesser street maybe P Street in the Beltway next to a manhole over the main sewage pipe full of swamp gas going through the manhole cover holes!!
Many people depend on liberal programs yet they keep squandering $$$$ on gasoline/diesel just for good times .... they get what they ask for! Time to be smart now! Screw the Exxons and Chevrons !!! FK them ! America will be a lot better. also FK the fossil purists !! TV evangelists funded by oil !!!
@brettze there would be better success with alternative energy if it wasn't rammed down peoples throat. It is viable in some areas today but not in others.
Uain53 profile picture
Those who work in retail, health care, shipping, post office…. Etc., don’t have much choice … if they want to stay employed.
brettze profile picture
@Uain53 Postal workers actually hoped for Evs but they are let down by liberals still so conflicted about everything in sight!
On CNBC: Oil $80 next week! Oil $65 in 2 months! Bear case $45! Future fair value $45-60. OIH is a bargain near support, imo. Worst case I add lower and DRIP: VLO DVN PXD ENB KMI EDP. Long all. Did sell EOG for cash management, added it to AVGO today.
brettze profile picture
@RWilliam oil prices is not as important as how many fewer million barrels we use. This is the key to everything! We the People can fix this ourselves and stop listening to our politicans who listen to oil lobby ..
Oil dollars is behind many poltical movements against our government that hurt most of us.. If you dont think you are hurt, then fine, dont just argue with me .. if you agree with me , then the dollars you spend on oil is like a boomrang going around and hit you in the head..
Dont blame the polticians... Blame yourself for throwing the boomrang1
@RWilliam seriously get a job at wal marts
There's hardly a drop left in the oil barrel and yet the prices keep going down. The price of oil isn't being manipulated is it? Looks like the cure for high oil prices is to let the oil speculators manipulate the price of oil rather than bringing on more Supply. Now that's different.
deercreekvols profile picture
Oil is sitting at $101.00

Hardly "crushed."

Remember what Seeking Alpha favorite Cathie Wood said:

"I would be surprised if we ever saw Oil at $70 again." (May 2021)

Don't believe the hype comes to mind...
Rex Rode profile picture
@deercreekvols and it wasn't her only miscalculation...
Rex Rode profile picture
Although I believe oil will rise higher in the future it's an interesting article. To begin with, extremely high oil prices have been the leading factor in inflation. High energy prices have an effect on nearly everything. So basically OPEC+ did everything possible over the last 18 months to limit supply while demand slowly increased since late 2020. One could argue, that if supply was not limited, then prices wouldn't have gone nuts. Hence, causing inflation. Now oil is dropping because high oil prices have punished our global economy to the point of a global recession. All the while, many countries leadership (OPEC+ and others) have sat idly doing nothing to increase the supply of oil. In closing, thank U OPEC+ for getting over on the world, thank U Russia for starting a war, and thank U to all the leaders of the world for just sitting around and letting this happen....And don't think the world doesn't have plenty of oil. Just 2 years ago we nearly ran out of places to put it. Houston, we have a supply constriction issue.
Crushed to 100! Earnings should be spectacular
Safety Dance profile picture
Let me get this straight. In 2019 oil was $55 a barrel and $BP was $40 a share. Today oil is $100 a barrel and BP is $27 a share. Get real. Who is selling their BP at this point?
@Safety Dance could not agree more
Tomorrow oil goes up equities
Will attempt to follow
@Safety Dance BP could have its highest quarterly earnings in its history. The company is buying back $50 million of stock daily. The company is paying down billions in debt. Hard to fathom that the stock could trade this low. Must be the worst performing private western energy company. This should be trading at $60.
@Safety Dance It's just selling from algo's, in a market sell off, everything goes. It is up to individual investors to pick good companies. I have been picking up CVE, and BP, and will hold for a few years. The market this year is all about pumping and dumping and rotating, until we find an actual bottom, this has nothing to do with fundamentals.
valuinvst profile picture
Should be good for gas prices right?
@valuinvst not when our refining capacity is completely maxed out.

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