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Roger Kristiansen
Roger Kristiansen
 
March 06

Sector Briefing: Energy (56.54 +0.06)

Følger USA sektoren tett siden trender på Wall Street føres over til de norske. Det er ikke noen spesielt store bevegelser til tross for den sterke økningen i WTI / Brent futures og dette kan være et viktig signal på metning og at markedet ikke er villig til å prise denne høye prisen inn for året som helhet. Markedet kan via endringene til aksjene signalisere at investorer kan være i ferd med å bli |mettet av oljeaksjer. WTI crude opp 11,7 % og den beste oljeaksjen i på denne listen er + 1,7 %?? Se nærmere på de vedlagte chartene...

The S&P 500 (-1.3%) remains pressured by losses in ten sectors with seven down at least 1.0% while energy (+0.1%) outperforms, holding a slight gain.

Key factors driving today's performance include:

  • Pressure from a continued rise in the price of oil as WTI crude climbs $9.43, or 11.7%, to $90.45/bbl, its highest level since October 2023. President Trump said yesterday that his administration is looking to counter the increase, but that has not stopped oil from extending this week's gain to $23.39/bbl or 34.9%. NEC Director Hassett said today that there has been no discussions about utilizing the strategic petroleum reserve.

  • Fresh 52-week highs in three components and gains in roughly half of the remaining listings keeping the sector in positive territory for the week. The energy sector is up 1.0% since last Friday versus a 2.0% week-to-date loss in the S&P 500.

Notable movers:

  • Occidental Petroleum (OXY 54.15, +0.91, +1.71%): best performer in the sector, trading in the upper half of yesterday's range.

  • APA (APA 32.82, +0.44, +1.34%): rising to its best level since April 2024.

  • Diamondback Energy (FANG 181.10, +2.06, +1.15%): on track for its best close since November 2024.

  • Expand Energy (EXE 107.52, +0.85, +0.79%): rising back above its 50-day (106.60) and 200-day (107.33) moving averages.

  • ConocoPhillips (COP 117.58, +0.76, +0.65%): trading near the midpoint of this week's range.

  • EOG Resources (EOG 131.84, +0.81, +0.62%): seeking its best close since February 2025.

  • Devon Energy (DVN 44.77, +0.25, +0.56%): rising toward its February high (46.15).

  • Exxon Mobil (XOM 151.46, +0.70, +0.46%): approached the midpoint of its range from Tuesday before narrowing its gain.

  • Chevron (CVX 189.56, -0.34, -0.18%): hit a fresh record high before turning negative.

  • Marathon Petroleum (MPC 216.00, -1.36, -0.63%): deepening yesterday's reversal from a record high.

  • Phillips 66 (PSX 162.45, -3.99, -2.40%): falling from record territory.

  • Valero (VLO 222.52, -5.51, -2.42%): weakest performer in the sector, dipping from a record high.