...as I mentioned before, oil stocks have poor risk:reward.
...when WDS had bonanza profits during the supply chain shock crisis that saw oil shoot to $118 in May 2022, WDS stock could just muster $30 though it did get to $35 later but a far cry from the $65 it was back in 2008. Today WDS fell -6.32% to $21.06 as oil price tumbled on deflation worries following Trump's tariff blitz.
....when oil price rose, it was lacklustre, when oil price fall, it reacted badly.
....but you wanted your dividends. Investors flee Woodside, Santos on oil price fears
Nicola Blackburn
Fears of a dramatic drop in oil prices sparked frenzied selling in ASX 200 oil and gas stocks on Friday.
Oil posted steep losses after US President Donald Trump’s tariffs, coupled with an OPEC+ decision to increase output faster than previously announced, triggered the worst rout since 2022.
West Texas Intermediate traded below $US67 a barrel, while Brent closed near $US70. Hours after Trump’s deluge of tariffs created fresh doubts about the outlook for the global economy, the Organisation of the Petroleum Exporting Countries and its allies tripled a planned output hike for May in what delegates described as a deliberate effort to drive down prices to punish the group’s cheats.
Index heavyweights Woodside and Santos sank around 7 per cent near 11am AEDT. Oil and gas explorer Karoon posted the second-largest loss ont the index, slumping 9.3 per cent. Petrol producer Ampol posted a modest loss.
