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0.00228832951945075 -0.00228832951945075 0.00228832951945075 -0.00915331807780321 0.00915331807780321 0.0251716247139589 0.0274599542334096 0.0137299771167049
Stock impact report

UPDATE 3-U.S. shale companies hedges were inadequate for oil price crash [Reuters (UK)]

Marathon Oil Corporation (MRO) 
Last marathon oil corporation earnings: 2/12 04:30 pm Check Earnings Report
US:NYSE Investor Relations: marathonoil.com/investors
Company Research Source: Reuters
U.S. shale companies hedges were inadequate for oil price crash - Reuters 6 Min Read NEW YORK/DENVER (Reuters) - Oil prices have plunged so much that even U.S. shale producers who have paid for the industry’s version of income insurance must deal with big holes in their budgets. Crude oil prices have crashed about 50% this year, hit by the coronavirus outbreak and the surprise price war that erupted last weekend between Saudi Arabia and Russia. The U.S. crude benchmark CLc1 on Friday posted its worst week since the 2008 global financial crisis and closed at $31.73 a barrel, far below the $50-per-barrel price where many companies hedged. [O/R] With prices at three-year lows, shale producers also are exposed because they used options in such a way that their insurance erodes the more oil declines. “U.S. production is likely less well hedged than the market realizes,” said Michael Tran, managing director of energy strategy at RBC Capital Markets in New York. (Graphic link: tmsnrt.rs/2Qbx Show less Read more
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