Oil and Gas COVOL Common Volatility Analysis
COVOL values for Thursday, June 18, 2026:
COVOL
2.0627
COVOL Index
0.6048
increased by 0.0353
Analysis last updated: Saturday, June 20, 2026 at 03:42 AM UTC
Jun 22, 2021 – Jun 22, 2026
COVOL data for
COVOL Loadings
| Loading | VW Loading | |
|---|---|---|
| PetroChina Company Limited | 0.2851 | 7.5016 |
| Anadarko Petroleum Corp | 0.2520 | 1.6044 |
| Shell PLC | 0.2468 | 0.8660 |
| BP PLC | 0.2429 | 0.8669 |
| Eni SpA | 0.2226 | 0.8055 |
| EOG Resources Inc | 0.2186 | 1.3427 |
| Devon Energy Corp | 0.2170 | 1.6083 |
| Halliburton Co | 0.2089 | 1.6920 |
| Repsol SA | 0.2061 | 0.9298 |
| Chevron Corp | 0.2008 | 0.5985 |
| Occidental Petroleum Corp | 0.1992 | 1.2032 |
| Exxon Mobil Corp | 0.1978 | 0.5426 |
| SLB Ltd | 0.1917 | 1.1243 |
| Kinder Morgan Inc/DE | 0.1893 | 0.6182 |
| Princ Comp #1 | 0.1887 | 0.5942 |
| TotalEnergies SE | 0.1880 | 0.6203 |
| Suncor Energy Inc. | 0.1857 | 1.0938 |
| ConocoPhillips | 0.1853 | 0.8158 |
| Ecopetrol SA | 0.1655 | 1.0895 |
| Petroleo Brasileiro SA | 0.1654 | 1.7390 |
Top COVOL Events (new events in boldface)
| Date | COVOL | Event | |
|---|---|---|---|
| 1 | Oct 7, 2003 | 90.15 | Oil and gas running out faster than global warming |
| 2 | Apr 12, 2019 | 67.53 | Sanctions on Iran and Venezuela; U.S. crude oil production record high; Global Youth Climate Strike |
| 3 | Mar 9, 2020 | 62.76 | COVID - All of Italy is locked down, Saudi Arabia / Russia oil price war |
| 4 | Jun 22, 2001 | 54.69 | Exxon accused of human rights abuse, OPEC signals output would remain steady |
| 5 | Dec 7, 2001 | 45.74 | Israeli–Palestinian conflict |
| 6 | Jan 5, 2026 | 42.97 | US military strike on Venezuela and capture of President Maduro; Energy and defense stocks surge on geopolitical volatility |
| 7 | Apr 3, 2025 | 32.02 | Global equities slide as U.S. imposes broad new import tariffs |
| 8 | Mar 14, 2014 | 31.00 | Russia–Ukraine gas disputes: Annexation of Crimea |
| 9 | Jul 21, 2005 | 28.84 | Uncertainty surrounding the effects of China's currency revaluation; attacks on London's Underground and mixed earnings reports; Saudi Arabia's record budget surplus; Terasen B.C. Oil Spill |
| 10 | Nov 6, 2024 | 27.07 | Donald Trump elected president of the United States |
| 11 | Oct 31, 2003 | 26.15 | Stocks Tumble, Spurred by Dive in Consumer Confidence |
| 12 | Nov 9, 2020 | 25.49 | COVID - Pfizer early trial data suggests vaccine is 90% effective; Oil soars 8% on promising COVID-19 vaccine results; Joe Biden elected president of the United States |
| 13 | Jun 1, 2010 | 24.73 | Deepwater Horizon oil spill. US to investigate possible criminal prosecutions |
| 14 | Jun 24, 2016 | 24.26 | Brexit |
| 15 | Nov 8, 2007 | 20.82 | Global Financial Crisis - Asian markets crash; Cosco Busan oil spill |
| 16 | Sep 16, 2019 | 20.47 | Drone attack on critical Abqaiq–Khurais oil processing facilities |
| 17 | Feb 28, 2022 | 18.96 | Russia invades Ukrained; Sanctions on Russia |
| 18 | Jan 2, 2004 | 18.62 | |
| 19 | Mar 18, 2020 | 18.52 | COVID - Oil dropped in 3rd worst day on record as COVID-19 continues and rising worries about a global recession lead to fears of longer-term demand destruction |
| 20 | Mar 16, 2020 | 18.41 | COVID - United Nations Climate Change Conference (COP26) postponed |