Oil Prices Plunge, Major Oil Stocks Suffer Significant Losses
- Oil Price Collapse: Following President Trump's announcement of a two-week ceasefire with Iran, Brent crude prices plummeted over 10% to $96.73, while West Texas Intermediate fell nearly 14% to $95.45, significantly impacting energy stocks and market confidence.
- Major Oil Stocks Decline: Exxon Mobil dropped 6.3% in premarket trading, Chevron fell 4.8%, and ConocoPhillips sank 8.5%, with year-to-date gains of 37%, 34%, and 42% respectively, indicating a substantial reversal in market performance.
- Production Forecast Downgrade: Exxon anticipates a 6% decline in oil production for Q1 compared to Q4 2025 due to operational disruptions in Qatar and the UAE, although favorable pricing conditions are expected to boost upstream earnings by $2.1 to $2.9 billion, with overall operations facing a $400 million to $800 million reduction.
- Refining Sector Gains: While major oil companies face challenges, refining firms like Valero Energy, Phillips 66, and Marathon Petroleum stand to benefit from lower crude costs, enhancing their profit margins and highlighting a divergence within the energy sector.
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Technical Analysis for SHELL
Technical Sentiment Analysis for MyShell (SHELL). As of , MyShell (SHELL) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 5 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHELL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHELL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
MyShell (SHELL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0196 | 0.0237 | 0.0266 | 0.0307 | 0.0336 | 0.0377 | 0.0406 |
| Fibonacci | 0.0237 | 0.0264 | 0.0281 | 0.0307 | 0.0334 | 0.0351 | 0.0377 |
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