Oil and Gas COVOL Common Volatility Analysis
COVOL Index for Tuesday, December 23, 2025:0.4271 (-0.0118)
COVOL data for
COVOL Loadings
| Loading | VW Loading | |
|---|---|---|
| PetroChina Company Limited | 0.2861 | 7.5276 |
| Anadarko Petroleum Corp | 0.2528 | 1.6095 |
| Shell PLC | 0.2479 | 0.8698 |
| BP PLC | 0.2432 | 0.8665 |
| Eni SpA | 0.2245 | 0.8134 |
| EOG Resources Inc | 0.2194 | 1.3588 |
| Devon Energy Corp | 0.2186 | 1.6287 |
| Halliburton Co | 0.2088 | 1.7042 |
| Repsol SA | 0.2063 | 0.9277 |
| Exxon Mobil Corp | 0.2001 | 0.5462 |
| Chevron Corp | 0.1978 | 0.5905 |
| Occidental Petroleum Corp | 0.1968 | 1.1883 |
| Princ Comp #1 | 0.1893 | 0.5985 |
| TotalEnergies SE | 0.1890 | 0.6234 |
| Kinder Morgan Inc/DE | 0.1889 | 0.6261 |
| SLB Ltd | 0.1878 | 1.1016 |
| ConocoPhillips | 0.1864 | 0.8212 |
| Suncor Energy Inc. | 0.1842 | 1.0937 |
| Petroleo Brasileiro SA | 0.1676 | 1.7814 |
| Ecopetrol SA | 0.1617 | 1.0554 |
Top COVOL Events (new events in boldface)
| Date | COVOL | Event | |
|---|---|---|---|
| 1 | Oct 7, 2003 | 89.50 | Oil and gas running out faster than global warming |
| 2 | Apr 12, 2019 | 67.88 | Sanctions on Iran and Venezuela; U.S. crude oil production record high; Global Youth Climate Strike |
| 3 | Mar 9, 2020 | 62.57 | COVID - All of Italy is locked down, Saudi Arabia / Russia oil price war |
| 4 | Jun 22, 2001 | 53.74 | Exxon accused of human rights abuse, OPEC signals output would remain steady |
| 5 | Dec 7, 2001 | 46.40 | Israeli–Palestinian conflict |
| 6 | Apr 3, 2025 | 32.30 | Global equities slide as U.S. imposes broad new import tariffs |
| 7 | Mar 14, 2014 | 30.94 | Russia–Ukraine gas disputes: Annexation of Crimea |
| 8 | Jul 21, 2005 | 28.86 | 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 |
| 9 | Nov 6, 2024 | 27.36 | Donald Trump elected president of the United States |
| 10 | Oct 31, 2003 | 26.07 | Stocks Tumble, Spurred by Dive in Consumer Confidence |
| 11 | Nov 9, 2020 | 25.69 | 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 |
| 12 | Jun 1, 2010 | 24.77 | Deepwater Horizon oil spill. US to investigate possible criminal prosecutions |
| 13 | Jun 24, 2016 | 24.48 | Brexit |
| 14 | Nov 8, 2007 | 20.68 | Global Financial Crisis - Asian markets crash; Cosco Busan oil spill |
| 15 | Sep 16, 2019 | 20.54 | Drone attack on critical Abqaiq–Khurais oil processing facilities |
| 16 | Feb 28, 2022 | 18.95 | Russia invades Ukrained; Sanctions on Russia |
| 17 | Jan 2, 2004 | 18.66 | |
| 18 | Mar 16, 2020 | 18.61 | COVID - United Nations Climate Change Conference (COP26) postponed |
| 19 | Mar 18, 2020 | 18.55 | 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 | Oct 28, 2021 | 18.04 | Oil executives hearing on Climate Change |