Benjamin Chiou Sharecast News

19 Feb, 2015 15:41 19 Feb, 2015 17:19

Sector movers: Oil stocks track crude prices lower ahead of stockpile data

Oil producers and energy services stocks were hit on Thursday by a tumble in the price of crude on the back of speculation that US government data will show that oil stockpiles rose to a record high last week.

Amec Foster Wheeler

546.50p

17:00 06/10/17

0.18%

1.00p

BG Group

n/a

BP

384.00p

15:45 15/11/24

1.25%

4.75p

FTSE 100

8,060.61

15:45 15/11/24

n/a

FTSE 250

20,508.75

15:45 15/11/24

n/a

FTSE 350

4,453.56

15:45 15/11/24

n/a

FTSE All-Share

4,411.85

15:45 15/11/24

n/a

Harbour Energy

253.90p

15:44 15/11/24

0.51%

1.30p

Hunting

304.50p

15:30 15/11/24

1.00%

3.00p

Oil & Gas Producers

8,043.72

15:45 15/11/24

1.32%

105.17

Oil Equipment, Services & Distribution

4,928.34

16:30 25/09/24

0.00%

0.00

Ophir Energy

57.50p

16:39 21/05/19

1.59%

0.90p

Petrofac Ltd.

11.20p

15:34 15/11/24

0.09%

0.01p

Pharos Energy

21.40p

14:14 15/11/24

0.00%

0.00p

Shell 'A'

1,895.20p

17:05 28/01/22

-1.25%

-24.00p

Tullow Oil

22.10p

15:39 15/11/24

1.94%

0.42p

Wood Group (John)

49.84p

15:39 15/11/24

-1.70%

-0.86p

Industry group, The American Petroleum Institute, said on Wednesday that stockpiles of crude in the States increased by 14.3m barrels last week. This was well ahead of the analyst forecast for a 3.2m rise and represented the biggest week-on-week increase on record.

Official data from the Energy Information Administration on Thursday is currently predicted to show a 3.7m-barrel increase last week, though the market now believes there is upside risk to this figure.

Brent future for April delivery was down 3.5% at $58.41 a barrel, having earlier reached a low of $57.80. The commodity was extending falls after reaching $63 on Tuesday.

West Texas Intermediate oil fell 4.1% to $50.01 a barrel, dropping below the $50 mark earlier in the session.

Meanwhile, there were reports that Saudi Arabia, the biggest producing nation in OPEC, could be lifting output to nearly 10m barrels per day.

London's blue-chip oil and gas stocks were under pressure in afternoon trade, such as Tullow Oil, Shell, BG Group and BP.

Smaller producers including Soco International, Premier Oil and Ophir Energy were also registering losses, along with oil services groups Hunting, Amec Foster Wheeler, Wood Group and Petrofac.

Top performing sectors so far today
General Industrials 4,380.71 +1.71%
Food Producers & Processors 8,000.32 +1.67%
Tobacco 43,055.15 +1.54%
Aerospace and Defence 5,220.85 +1.38%
Household Goods & Home Construction 13,859.03 +1.37%

Bottom performing sectors so far today
Industrial Metals & Mining 1,866.33 -2.47%
Oil Equipment, Services & Distribution 17,534.93 -2.24%
Oil & Gas Producers 7,315.08 -1.89%
Pharmaceuticals & Biotechnology 13,534.73 -1.07%
Electricity 9,179.97 -1.03%