Chevron and Exxon Mobil Rise 3% as U.S. Strikes on Iran Push WTI Crude Oil to $86
Brent and West Texas Intermediate crude climbed after renewed U.S.-Iran strikes and reports of attacks on shipping raised supply disruption fears.
- On Sunday, United States forces struck two launchers on Iran's Larak Island in the Strait of Hormuz, marking the first known American strikes on the country since late July.
- Shipping through the Strait of Hormuz remains constrained as the US-Iran conflict extends into its sixth month, with visible commodity vessel transits falling to five a day.
- Chevron and Exxon Mobil stock climbed 3% each on Monday, while Brent crude futures rose 3.58% to $91.25 a barrel as the geopolitical risk premium boosted energy valuations.
- President Donald Trump claimed Iran's Kharg Island was "blown to smithereens" despite lacking evidence, while Iranian media reported the Revolutionary Guards attacked two United States air bases in Jordan on Monday.
- Treasury Secretary Scott Bessent said the United States will likely impose new secondary sanctions on Iran weekly, as mediators struggle to reopen the Strait of Hormuz amid stalled negotiations.
17 Articles
17 Articles
(New York = Yonhap News) Correspondent Kim Yeon-sook = International oil prices surged on the 31st (local time) as the United States and Iran resumed armed conflict for the first time in about a month.
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BizTocChevron and Exxon Mobil Rise 3% as U.S. Strikes on Iran Push WTI Crude Oil to $86
The post Chevron and Exxon Mobil Rise 3% as U.S. Strikes on Iran Push WTI Crude Oil to $86 appeared first on 24/7 Wall St.. Shares of Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) are climbing in Monday morning trading after the United States and Iran resumed military strikes over the weekend, with shipping through the Strait of Hormuz still constrained. Chevron stock is up 3% to $207.80; Exxon Mobil stock is rising 3% to $161.31. The energy com…
August is closing with a jump of more than 3% in international oil prices after US forces hit two Iranian missile launchers on the island of Larak, signaling a return to fighting between Washington and Tehran. Specifically, international Brent crude oil futures for September delivery rose 3.3% to $90.99 a barrel.
Brent crude surges above $90 as fears grow of further disruptions to energy flows through the Strait of Hormuz
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