Not many energy stocks rise today as good news from COVID-19 vaccine development causes mixed perceptions on the movement of stock markets. Halliburton (NYSE: HAL) and Noble Energy (NASDAQ: NBL) show almost similar climbing percentages. At the same time, energy giants like Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) fall by similar rates near 1.40%.
Crude oil prices can’t rise throughout several months while OPEC+ members are not making efforts in decreasing mining volumes due to geopolitical issues in the Eurasian region.
Economies are emerging slowly but demand for energy resources does not seem soaring as fear of the pandemic’s second wave is pulling investors not to risk with their planned projects.