uploads/2017/12/p4.png

Seadrill Underpeformed Oil Prices the Most Last Week

By

Updated

Energy stocks

On November 24–December 1, 2017, oilfield services stock Seadrill (SDRL) fell the most among energy stocks. These energy stocks are from the VanEck Vectors Oil Services ETF (OIH), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the Energy Select Sector SPDR ETF (XLE), the Alerian MLP ETF (AMLP), and a few US-listed integrated energy stocks.

CARBO Ceramics (CRR) fell the fifth-largest loser on our list of energy stocks last week. However, OIH rose 4.8%—the highest on our list of energy subsector ETFs, as we discussed in Part 2 of this series.

Integrated energy stock Petrobras (PBR) and downstream stock PBF Energy (PBF) were the second and third-largest losers on our list last week. Midstream stock Cheniere Energy Partners (CQP) was the fourth-largest loser on our list of energy stocks on November 24–December 1, 2017.

On November 27, 2017, Petrobras announced that oil production from the Libra block in the Santos Basin started on November 26, 2017.

Last week, the S&P 500 Index (SPY) rose 1.5%. US crude oil futures fell 1% last week. These energy stocks underperformed weak oil prices last week.

More From Market Realist