It’s been a miserable day for oil stocks–the energy sector is the worst performer in the S&P 500–and with the pain driven by something fundamental–oil prices are tumbling after the U.S. Energy Information Administration said gasoline supplies rose–and analysts slashed their ratings on four stocks: Citigroup’s Alastair Syme cut BP (BP) and Royal Dutch Shell (RDS.A), while Evercore ISI’s Stephen Richardson downgraded Callon Petroleum (CPE) and Antero Resources (AR).
But, oh, that inventory data. TD Securities’ Menno Hulshof and team explain why it sent oil prices tumbling:
April 19, 2017 at 11:58PM
from Ben Levisohn
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