| Getty Images Key Takeaways Last week, oil prices were down as American price caps on Russian oil were weaker than originally intended. In theory, this meant a more steady supply of oil and a lower likelihood of price spikes. This week, a confluence of factors – including the closure of the Keystone pipeline and an expected increase in economic activity in China – pushed stock prices back on an upward trend. Energy stock prices are almost always dependent on oil prices, which are highly variable. It’s not unusual to see such swings, but they should be considered while managing your long-term portfolio. On Dec. 5, 2023, major energy stocks like Exxon Mobil, Haliburton, and Shell entered a week-long tumble. They went from $109.86 to $103.54 (XOM), $38.87 to $33.01 (HAL), and $57.72 to $55.61 (SHEL) respectively. These stocks have each made a partial recovery, at least. XOM is sitting at $108.68, HAL is trading for $39.09, and SHEL is $57.78. But what caused the downward turn in the first place? It turns out it was a confluence of factors, including geopolitical conflicts, scientific advances, and something known as the rocket-and-feather theory. What is the rocket-and-feather theory? Energy stocks […]
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