Sector: Energy & Utilities
ExxonMobil stock has fallen 3.0% so far in Q4. However, Chevron, Royal Dutch Shell, and BP have risen 2.8%, 0.5%, and 2.6%, respectively.
Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) (BRK-B) reduced its stake in Phillips 66 stock by almost 6.7% in the third quarter.
This month, Shell's stock returns have been lower than most peers'. The company believes its returns could be vulnerable to macroeconomic conditions.
The EIA released its inventory report at 10:30 AM ET. WTI crude oil prices rose around 0.4% at 11:31 AM ET from their last closing level.
Williams Companies stock fell for the seventh consecutive day on Wednesday and closed almost at an 11-month low. Midstream stocks are trading weak.
The strong sell-off continues in Energy Transfer (ET) stock. The stock lost another 4% and closed at its three-year low of $11.16 on Wednesday.