Energy Stocks Take a Beating As Tariffs Pack Punch

Oil stocks took a solid beating today after new tariff announcements out of Washington sent shockwaves through global markets. Add in fresh chatter from OPEC+ about potential production increases, and you’ve got the perfect storm for energy investors.

Never mind that imports of oil, gas, and refined products earned themselves an exemption from Liberation Day.

Here’s how some of the major (and supermajor) oil names fared—ranked from least bruised to most battered:

TotalEnergies SE (TTE): The French supermajor posted the smallest decline of the group, down 3.27% to $62.32. Not exactly a victory lap, but compared to some other big names in energy, they’re walking away with a scratch. The fallout comes just a day after TotalEnergies announced it had signed an agreement to acquire the recently commissioned 184MW Big Sky Solar project in Alberta along with other solar and wind farms under development.

Exxon Mobil Corp. (XOM): Exxon held up better than most, shedding 4.57% to land at $113.20. The world’s largest publicly traded oil company still couldn’t shake off the macro nerves.

Chevron Corp. (CVX): The Houston-based giant slipped 5.63% to $157.10. Investors are clearly skittish, especially with refining margins under pressure. Earlier this week, Chevron sold a 70% stake in its East Texas assets for $525 million as part of its drive to sell off between $10 and $15 billion worth of its assets.

BP plc (BP): The Brits weren’t spared either. BP shares dropped 6.83% to $31.50 as European energy names faced added heat, even on news that it is cutting its low-carbon mobility team as it returns to what it does best—hydrocarbons.

ConocoPhillips (COP): A rough day for COP shareholders, with the stock sliding 9.21% to $96.31. E&P names are particularly sensitive to price signals right now. Conoco announced this week that it was looking to offload $1 billion in Oklahoma assets.

EOG Resources, Inc. (EOG): EOG dropped 7.51% to $120.28, but market sentiment suggests more volatility could be ahead for shale-focused firms.

Occidental Petroleum Corp. (OXY): Down 10.43% to $44.16, Oxy took a notable hit. A shaky oil market is the last thing this debt-heavy producer needs.

Marathon Petroleum Corp. (MPC): MPC gets today’s crown for “most walloped,” falling 11.56% to $130.76. The refining sector is clearly in the crosshairs.

Tariffs, supply fears, and recession whispers—today’s losses are a reminder that while energy stocks may be a sound play long-term, even the big dogs aren’t exempt from market volatility.

By Julianne Geiger for Oilprice.com

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