Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,678.46
    +1,589.09 (+2.30%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,241.00
    +28.30 (+1.28%)
     
  • Crude Oil

    83.00
    +1.65 (+2.03%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Why ConocoPhillips Shares Jumped 36.7% in April

Why ConocoPhillips Shares Jumped 36.7% in April

Shares of the ConocoPhillips (NYSE: COP), the largest U.S. oil and gas exploration and production company (E&P), rose 36.7% in April, according to data provided by S&P Global Market Intelligence. ConocoPhillips' move was part of a larger recovery in the broader oil industry, which was hammered in March, first as a price war broke out between Saudi Arabia and Russia, and then as coronavirus-related travel restrictions caused demand for automobile and jet fuel to dry up. The severity of March's price downturn combined with questions about the severity and duration of coronavirus-related shutdowns caused ConocoPhillips to take drastic action.