
Global share prices have fallen after US president Donald Trump introduced sweeping tariffs on a vast range of the country’s trading partners.
Fears about the impact that these tariffs could have on the global economy meant that shares on stock markets around the world started to dip when they were first announced on Thursday 3 April.
Friday 4 April saw these loses grow, and when markets opened after the weekend, shares feel even further.
Energy stocks have shown that they aren’t immune to these loses, with companies across the size and supply chain spectrum all being affected.
The supermajors have been hard hit on both sides of the Atlantic. BP and Shell, ExxonMobil and Chevron, and TotalEnergies and Equinor all taking hits.
On 2 April, before the full announcement of the Trump tariffs, BP closed the day on 432.75p
It saw an immediate drop when the market opened on 3 April, falling to 422.20p. By the time the first two days were over, its share price was 371.28p
And when markets opened Monday, shares fell again, hitting a low of 347.85p before regaining some ground to go above 350p
Shell suffered a similar fate, closing 2 April at 2,775.50p and immediately dropping 2,707p the next day. By market close on 4 April, it was down on 2,491.50p, and fell again Monday to 2,294.50p. Like BP, it regained a little ground to hover around 2,340p.
US stocks were similarly hit. ExxonMobil lost $10 over the first two days of the tariff-inspired selloff, going from over $115 to close the week at $105. Monday’s market open cut another $5 off its share price, and the day has seen it go just below the $100 level.
Meanwhile, Chevron went from its pre-tariff level of $163.47 down to $143.11 at market close on Friday. It dropped again this morning to $138.94 but has since added another dollar to hover below $140.
It was a similar story in Europe.
France’s TotalEnergies dropped from 59.50 euros on 3 April’s market open down to 53.43 euros by the end of 4 April. Market open Monday cut that down to 49.56 euros.
And Norway’s Equinor has fared little better. From $26.49 before the tariffs were announced, shares fell to $23.41 at the end of Friday and then further to $22.43 Monday.
UK operators
It isn’t just international supermajors that have been affected by the global stock market slides. The UK’s smaller North Sea operators have all seen their shares cut over 3-4 April and then another slice taken off when markets opened this morning.
Harbour Energy, Ithaca Energy, Serica Energy, Jersey Oil and Gas (JOG), Deltic Energy and EnQuest are among the companies that have all seen shares fall over the past three market days.
Harbour, for example, started 3 April on 208.80p, but fell to 174.40p by 4 April, and then fell again to 159.50 Monday. It has since managed to track back some of that ground, however, breaching the 170p level.
Oil and gas services companies were similarly affected by the tariff slump. Both Wood and Petrofac saw dips, going from 29.6p and 5.7p, respectively at market close on 2 April, before dropping to 26.02p and 5.2p by the end of Friday.
Monday saw these loses widen, with Wood dropping down 23.90p at its lowest today, and Petrofac reaching lows of 4.72p.
Both companies have since made some gains, with Wood hitting 24.38p and Petrofac going to 5.00p.
However, given both companies recent woes, Trump’s tariffs are the least of their worries.