Equinor ASA's stock is experiencing a decline in after-hours trading, which can be attributed to the recent downturn in crude oil prices. On December 2, 2024, crude oil prices fell as the US dollar strengthened, overshadowing positive economic data from China and ongoing geopolitical tensions in the Middle East. The West Texas Intermediate (WTI) crude oil price for January 2025 dropped by 0.1% to $67.93 per barrel. This decline in oil prices is significant for Equinor, a major player in the oil and gas industry, as it directly impacts the company's revenue and profitability.
Additionally, the oil market is facing uncertainty due to reports of ceasefire violations between Israel and Hezbollah, which could potentially disrupt oil supply routes in the region. Furthermore, OPEC's crude production has increased for the second consecutive month, adding to the pressure on oil prices. These factors contribute to the negative sentiment surrounding Equinor's stock, as investors remain cautious about the company's future earnings potential in a volatile oil market.
Equinor ASA (EQNR) shares fell 0.41% to $24.00 in after-hours trading, following a close at $24.10 on December 2, 2024.