Oil Slumps: 7 shares you need to watch on Friday

Woodside Petroleum (ASX:WPL) could be one to watch after oil prices sank overnight

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Oil prices tumbled overnight which will likely put the energy sector back in the spotlight today.

Here's a quick recap:

  • FTSE 100 (UK): up 0.04%
  • DAX (Germany): down 0.17%
  • CAC 40 (France): down 0.08%
  • Dow Jones (USA): up 0.34%
  • NASDAQ (USA): up 0.69%

Overnight, oil prices plunged more than 5% after the Organisation of Petroelum Exporting Countries, otherwise known as OPEC, extended its supply cuts by nine months, according to Bloomberg.

Although oil prices remain well above the low levels they sunk to early last year, the overnight decline is still likely to hurt the energy businesses. Thus, it's worth watching the Woodside Petroleum Limited (ASX: WPL) share price today, along with the share prices of other energy plays such as Origin Energy Ltd (ASX: ORG) and Santos Ltd (ASX: STO).

Also in the commodities space, the iron ore price shed 0.5%, according to The Metal Bulletin, and gold fell 0.2%.

Elsewhere, the Ansell Limited (ASX: ANN) share price could remain in focus after the company announced the sale of its Sexual Wellness business on Thursday, prompting a rise in its shares.

Automotive Holdings Group Ltd (ASX: AHG), on the other hand, plunged following a disappointing trding update, and could receive more attention today.

It will also be worth keeping an eye on the embattled retail sector. Myer Holdings Ltd (ASX: MYR) led a downwards march by the retailers on Thursday after one of its partly-owned subsidiaries went into administration, with Myer pulling other retailers such as JB Hi-Fi Limited (ASX: JBH) along for the ride.

Before getting started on your day, be sure to check out these two articles:

  1. Topshop flop spells trouble for Myer Holdings Ltd & retail investors
  2. 3 investing biases that could ruin your retirement
Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »