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STOCKS SLIP WITH MIDEAST TENSIONS, EARNINGS IN PLAY

Oil pares losses as traders anticipate Israel's response to Iranian attack

W&T Offshore Has Gained ~180% from Its 52-Week Low: What’s Next?

Kurt Gallon
Updated
W&T Offshore Has Gained ~180% from Its 52-Week Low: What’s Next?

W&T Offshore (WTI), an exploration and production company involved in offshore drilling, has fallen ~23% this month, while the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has lost ~5%. WTI is ~180% higher than its 52-week low despite its recent correction, possibly due to the company’s earnings being boosted YoY (year-over-year) by higher average realized prices. In the second quarter, WTI’s average realized crude oil price rose 50.6% YoY to $67.10 per barrel from $44.50 per barrel.

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