Berkshire Hathaway Falls 1.3% After Hours as Oil Tops $100
Berkshire Hathaway shares fell 1.3% in after-hours trading as WTI crude futures jumped 18% past $100, lifting Exxon Mobil by 3.6% and Chevron by 3.5%. Berkshire’s Apple stake slumped with broader tech, while GEICO and BNSF face slowdown risks, leaving the conglomerate down 0.7% YTD versus 25% energy gains.
1. Oil Surge Spurs Energy Rally
WTI crude futures spiked 18% past $100 per barrel, driving after-hours gains of 3.6% for Exxon Mobil and 3.5% for Chevron. Pure-play energy names outperformed as oil’s surge directly boosts margins and free cash flow, highlighting divergence from diversified conglomerates.
2. Berkshire Hathaway Faces Headwinds
Despite holding Chevron shares, Berkshire Hathaway dropped 1.3% after hours as its largest equity position in Apple sank alongside broader tech. Operating units like GEICO and BNSF Railroad now face potential revenue drag in an oil-driven slowdown, contributing to the group’s 0.7% YTD decline against a 25% energy rally.