{"id":123901,"date":"2021-12-13T21:31:29","date_gmt":"2021-12-13T21:31:29","guid":{"rendered":"https:\/\/fin2me.com\/?p=123901"},"modified":"2021-12-13T21:31:29","modified_gmt":"2021-12-13T21:31:29","slug":"biden-aims-to-lower-gas-prices-with-release-of-oil-reserves","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/","title":{"rendered":"Biden aims to lower gas prices with release of oil reserves"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>Oil prices began 2021 just under $50 a barrel. They are now trading just north of $70 and in October reached $85 -\u2014 a seven-year high. So it should come as no surprise that energy stocks are among the market&#8217;s biggest winners this year.<\/p>\n<p>Oil and natural gas exploration company <span>Devon Energy<\/span> <span>(<span>DVN<\/span>)<\/span> is the best performing stock in the S&amp;P 500 through December 13, with a nearly 180% gain.<br \/>\n<span>Marathon Petroleum<\/span> <span>(<span>MPC<\/span>)<\/span> and <span>Diamondback Energy<\/span> <span>(<span>FANG<\/span>)<\/span>, are up more than 100%. <span>APA<\/span> <span>(<span>APA<\/span>)<\/span>, the parent company of oil giant Apache, and <span>ConocoPhillips<\/span> <span>(<span>COP<\/span>)<\/span>, have nearly doubled as well.<\/p>\n<ul><\/ul>\n<p>As long as crude prices remain in the $60-to-$80-a-barrel range, oil stocks should continue to be solid performers in 2022 as well, said Anastasia Amoroso, chief investment strategist with iCapital Network.<\/p>\n<ul><\/ul>\n<p><img decoding=\"async\" alt=\"Casino stocks are looking like a big gamble \" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/211129081416-wynn-hotel-las-vegas-file-large-169.jpg\"><br \/>\nBut oil and gas firms aren&#8217;t the only ones that thrived in 2021. Other big winners included Bath &amp; Body Works, which is up 145% this year after spinning off Victoria&#8217;s Secret.<\/p>\n<p>Covid-19 vaccine maker <span>Moderna<\/span> <span>(<span>MRNA<\/span>)<\/span>, <span>Ford<\/span> <span>(<span>F<\/span>)<\/span> and chip giant <span>Nvidia<\/span> <span>(<span>NVDA<\/span>)<\/span> have all more than doubled in 2021, too.<br \/>\nAs for the losers, let&#8217;s just say that investors didn&#8217;t have much patience for games of chance &#8212; or video games.<\/p>\n<h3>Betting on gambling and video games has been a big bust<\/h3>\n<p>Casino owner and sports betting company <span>Penn National Gaming<\/span> <span>(<span>PENN<\/span>)<\/span>, which owns a big chunk of Dave Portnoy&#8217;s Barstool, is the worst S&amp;P 500 stock this year. It lost nearly half its value in 2021. <span>Las Vegas Sands<\/span> <span>(<span>LVS<\/span>)<\/span> and <span>Wynn Resorts<\/span> <span>(<span>WYNN<\/span>)<\/span> were also market laggards, falling 37% and 22% this year.<br \/>\nTraders also shunned software companies that make popular games for PCs and consoles. &#8220;Call of Duty&#8221; maker <span>Activision Blizzard<\/span> <span>(<span>ATVI<\/span>)<\/span>, whose CEO Bobby Kotick has come under fire due to a sexual discrimination and harassment scandal at the company, has plunged more than 35%<br \/>\nBut the problems for video games go beyond Activision Blizzard&#8217;s scandal. Well-publicized shortages of new consoles from <span>Sony<\/span> <span>(<span>SNE<\/span>)<\/span> and <span>Microsoft<\/span> <span>(<span>MSFT<\/span>)<\/span> have hurt the broader video game sector, too.<br \/>\n<span>Take-Two Interactive&#8217;s<\/span> <span>(<span>TTWO<\/span>)<\/span> shares have fallen more than 20% while <span>Electronic Arts<\/span> <span>(<span>EA<\/span>)<\/span> is down nearly 15%. (The console supply concerns haven&#8217;t stopped meme stock <span>GameStop<\/span> <span>(<span>GME<\/span>)<\/span> this year, though.)<br \/>\n<img decoding=\"async\" alt=\"Wall Street investor Cathie Wood is back with yet another new ETF\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/211209091609-cathie-wood-ark-0913-restricted-large-169.jpg\"><\/p>\n<p>Intense streaming competition is putting Big Media companies&#8217; growth into question. That&#8217;s hurting CNN parent company AT&amp;T, which is down more than 20% this year.<br \/>\n<span>AT&amp;T<\/span> <span>(<span>T<\/span>)<\/span> has announced plans to combine its WarnerMedia unit with <span>Discovery<\/span> <span>(<span>DISCA<\/span>)<\/span> (which is also down 20% this year) to create a new media giant to be called Warner Bros. Discovery.<br \/>\nShares of <span>ViacomCBS<\/span> <span>(<span>VIAC<\/span>)<\/span>, <span>Disney<\/span> <span>(<span>DIS<\/span>)<\/span> and <span>Verizon<\/span> <span>(<span>VZ<\/span>)<\/span> are all in the red for 2021 as well, for reasons ranging from more competition to a lack of investor enthusiasm for dividend stocks relative to bonds.<br \/>\nInvestors also soured on some of the pandemic winners from 2020. Shares of <span>Clorox<\/span> <span>(<span>CLX<\/span>)<\/span> fell more than 15%, making it among the worst stocks in the S&amp;P 500 for 2021. <\/p>\n<ul><\/ul>\n<p>The stocks of several pandemic beneficiaries not in the S&amp;P 500, most notably <span>Zoom Video<\/span> <span>(<span>ZM<\/span>)<\/span>, <span>Roku<\/span> <span>(<span>ROKU<\/span>)<\/span> and <span>Peloton<\/span> <span>(<span>PTON<\/span>)<\/span>, have plunged this year as well.<br \/>\nDespite recent worries about the rapidly spreading Omicron variant of Covid-19, investors are betting that the economy may return to normal and more people will go back to work and resume leisure activities thanks to vaccines.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/12\/13\/investing\/stock-market-winners-losers\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)Oil prices began 2021 just under $50 a barrel. They are now trading just north of $70 and in October reached $85 [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":123900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Biden aims to lower gas prices with release of oil reserves - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biden aims to lower gas prices with release of oil reserves - Fin2me\" \/>\n<meta property=\"og:description\" content=\"New York (CNN Business)Oil prices began 2021 just under $50 a barrel. They are now trading just north of $70 and in October reached $85 [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-13T21:31:29+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/12\/Biden-aims-to-lower-gas-prices-with-release-of-oil-reserves.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/\",\"url\":\"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/\",\"name\":\"Biden aims to lower gas prices with release of oil reserves - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-12-13T21:31:29+00:00\",\"dateModified\":\"2021-12-13T21:31:29+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Biden aims to lower gas prices with release of oil reserves\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Biden aims to lower gas prices with release of oil reserves - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/","og_locale":"en_US","og_type":"article","og_title":"Biden aims to lower gas prices with release of oil reserves - Fin2me","og_description":"New York (CNN Business)Oil prices began 2021 just under $50 a barrel. They are now trading just north of $70 and in October reached $85 [...]","og_url":"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/","og_site_name":"Fin2me","article_published_time":"2021-12-13T21:31:29+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/12\/Biden-aims-to-lower-gas-prices-with-release-of-oil-reserves.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/","url":"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/","name":"Biden aims to lower gas prices with release of oil reserves - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-12-13T21:31:29+00:00","dateModified":"2021-12-13T21:31:29+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/biden-aims-to-lower-gas-prices-with-release-of-oil-reserves\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Biden aims to lower gas prices with release of oil reserves"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/123901"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=123901"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/123901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/123900"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=123901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=123901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=123901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}