Search
Sunday 31 January 2016
  • :
  • :

Oil Stocks News Update: Chesapeake Energy (NYSE:CHK)

Oil Stocks News Update: Chesapeake Energy (NYSE:CHK)

– in BASIC MATERIAL

0

U.S. stocks fell for a third-straight day Wednesday, with the S&P 500 joining the Dow industrials in negative territory for the year, as earlier gains evaporated alongside a turn south in crude-oil prices, according to Market Watch

The slump in oil prices to levels not seen since the global financial crisis has fanned expectations of deflation, hammered economies of producers and flattened share prices of once high-flying energy companies, according to CNBC

But according to one analyst, lower oil prices could actually help some emerging market economies and refiners by lifting disposable incomes and improving margins.

“Cheaper feedstock costs will support refining margins, while lower import costs will encourage greater consumer spending, driving economic growth in the emerging economies,” said Peter Lee, Oil & Gas Analyst at BMI Research on Tuesday.

U.S. WTI and Brent crude oil prices are trading around seven-year lows, tanking after OPEC last week decided not to cut its 30-million-barrel a day production ceiling to support depressed energy prices. CNBC Report

On Wednesday, Shares of Chesapeake Energy Corporation (NYSE:CHK), inclined 1.82% to $4.48, during its last trading session.Chesapeake Energy Corporation is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.

DISCLAIMER:

This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.

All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.

Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.