Resource Stocks Shed USD 3.4 Trillion in Market Value

Source:

"Measured from peak prices in and around May, the world's top 20 oil majors return numbers of 60% and USD 2.2 trillion, however, individual percentage losses vary more widely. Exxon Mobil, a member of the 30-component Dow Jones Industrial Average, has surrendered a relatively modest 31% of its value, compared to particularly heavy losses posted by Chinese and Russian counters.

Depending on one’s point of view, today’s stock prices could be said to imply crude oil at USD 49 (now USD 64) a barrel, gold at USD 480 (USD 742) an ounce, copper at USD 1.35 (USD 1.84) a pound, platinum at USD 676 (USD 802) an ounce, and uranium at USD 19 (USD 45) a pound.

Measured from peak prices, mostly seen in and around May this year, the world's top 20 mining stocks have shed a weighted average of 74% in value, representing an aggregate decline in market value of USD 1.1 trillion.

Seen on the same basis, the world's top 20 oil majors return numbers of 60% and USD 2.2 trillion, where, however, individual percentage losses vary more widely. Exxon Mobil, a member of the 30-component Dow Jones Industrial Average, has surrendered a relatively modest 31% of its value, compared to particularly heavy losses posted by, in particular, Chinese and Russian counters.

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