Former hard secretary secretary after Trump escalation tariffs

Freedom energy During the two days, the shares lost almost a third of its value, as the company for the service of oil fields, founded by Presidential Energy Secretary Donald Trump, Chris Wright, falls under a large sale of pressure.

From the closing on Wednesday, the shares were shed 30% and last were 13.8% lower than 11:00 am. A sharp downturn means one of the stagger downs of energy services in the United States in recent months.

This comes when the price of Benchmark US Srude on Friday fell to $ 60 a barrel – the lowest level since 2021 and a new 52-week low level.

“American shale patches, which were very big fans and have a close relationship with Trump, will not be satisfied with this,” said Saul Kavonich, head of the energy research department at MST Marquee on Friday.

Kavonic also said the Prices for WTI have dropped below $ 60, the barrel could start threatening the supply growth.

“If you start to see further pressure down here … It will put pressure on people in Texas and Louisian and elsewhere to remove the drilling plants and not much,” he said.

Wright, US Energy Minister, founded Liberty Energy but departed from the company After entering public positions. Although he is no longer involved in everyday operations, freedom remains closely linked to shale boom, which the wreer helped the pioneers during the career of the leading head of energy.

Saying with CNBC in MarchWright said Americans could count on reducing oil prices under Trump’s presidency, who promised to unleash American energy drilling.

“There will be more supplies, and it pushed oil prices, gasoline, heating fuel, all over, it is a win for the American people,” Wright said.

Global energy reserves were at the intersection of tariffs that cause Trump’s chaos because fears are lifting All the trade war It can little global growth and demand for energy.

The OPEC+ decision to speed up oil hiking on Thursday exerted further pressure on prices – presenting a particularly undesirable situation for American slate manufacturers that face some of the The highest production costs in the world. Historically, shale companies have encountered financial squeezing during the low oil prices.

Shares in leading oil manufacturers in the US, including Conocophillips Thursday fell over 10% Exxon. Chevron and Active Closed more than 6%.

Liberty Energy’s The stock price jumped in November In the news of the appointment of Wright as Minister Energy, 5% higher on the day of the announcement. Its market capitalization at the time amounted to $ 2.7 billion. Now this market capitalization is $ 2.1 billion, according to LSEG.

Ron Gusek, CEO of the Denver Company, must release financial results in the first quarter of the company on April 16.