US and Iran exchange attacks on oil tankers! Iran warns of new "restricted zone" in the Strait of Hormuz, vowing faster, heavier, and more painful retaliation
Renewed hostilities between the United States and Iran have erupted around the Strait of Hormuz, with oil tankers and unmanned systems coming under successive attacks. Iran has threatened to establish new restricted zones and warned that its retaliation would be "faster, heavier, and more painful," even as it grapples with obstructed oil exports and economic distress.
Trending Stocks This Week as Markets Weigh Jobs Data and Rates
U.S. military strikes three Iranian oil tankers for the first time, escalating Strait of Hormuz tensions from "targeting infrastructure" to "disrupting transport"
The nature of the military conflict between the United States and Iran underwent a significant shift this week. As U.S. military strikes targeted crude oil tankers in transit for the first time, moving beyond coastal military facilities, this marks a formal escalation from "targeting production capacity and infrastructure" to "disrupting transportation corridors." Consequently, market focus has shifted from "the extent of Iran's production cuts" to "whether the U.S. military intends to systematically sever Iran's crude oil supply chains," prompting a reassessment of global crude oil pricing logic.
US and Iran exchange attacks on oil tankers! US military claims to have "destroyed" three Iranian oil tankers, while Iran's Islamic Revolutionary Guard Corps reports attacks on multiple oil tankers and US vessels.
US and Iran exchange attacks on oil tankers.
Energy Sector Outperforms in August as Middle East Tensions Boost Oil Prices
U.S. Gulf-to-China VLCC Shipping Rate Reportedly Hits Record High
Bessent: Oil prices to fall to $40 after Iran conflict ends, with bond yields declining accordingly
U.S. Treasury Secretary Bessent predicts that the global oil market will face a severe oversupply once the conflict in Iran ends, potentially driving oil prices down to $40–$50 per barrel and leading to a concurrent decline in bond yields and inflation. He noted that the correlation between current oil prices and interest rates has reached a record high.
Citadel Sets Sights on U.S. Shale Oil Assets! Previously Bid for WildFire, Ultimately Outmaneuvered by $4 Billion Deal
Citadel is targeting U.S. shale oil assets and has recently engaged with multiple private equity firms to pursue acquisitions. It had previously bid for WildFire Energy, but the asset was ultimately acquired by Magnolia Oil & Gas for approximately $4.06 billion. This reflects an accelerating trend among hedge funds and commodity traders to build positions in physical energy assets, leveraging production capacity to hedge against oil price volatility and geopolitical risks, while further expanding their physical asset exposure within commodity trading operations.
Trump’s inner circle scrambles to enter the market, carving up Venezuela’s oil “big cake”
With the collapse of the Maduro regime and U.S. intervention, Venezuela’s energy sector is experiencing an unprecedented “gold rush,” as business elites with close ties to the Trump administration rapidly move in to stake their claims.
BMO Capital Maintains Outperform on Chevron, Raises Price Target to $235
BMO Capital analyst Phillip Jungwirth maintains Chevron (NYSE:CVX) with a Outperform and raises the price target from $210 to $235.
U.S. ISM Services PMI expanded more than expected in August, with the prices index hitting a four-year high.
The U.S. ISM Services PMI rose to 55.4 in August, exceeding the expected 54.3 and reaching a six-month high, with new orders growing at the fastest pace since early 2023. The prices paid index climbed to 72.6, its highest level since mid-2022. The Chair of the ISM Services Business Survey Committee noted that prices for petroleum-related products rose again in August, while GPUs and steel were cited as facing supply shortages.
Wells Fargo Maintains Overweight on Chevron, Raises Price Target to $230
Wells Fargo analyst Sam Margolin maintains Chevron (NYSE:CVX) with a Overweight and raises the price target from $226 to $230.
This Occidental Petroleum Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Thursday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings
Oracle, Alphabet, Valero Energy And More On CNBC's 'Final Trades'
On CNBC's "Halftime Report Final Trades," Stephen Weiss is the Chief Investment Officer and Managing Partner of Short Hills Capital Partners picked Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG).Lending
Seaport Global Initiates Coverage On Devon Energy With Buy Rating, Announces Price Target of $65
Seaport Global analyst Vin Lovaglio initiates coverage on Devon Energy (NYSE:DVN) with a Buy rating and announces Price Target of $65.
Seaport Global Initiates Coverage On Diamondback Energy With Neutral Rating
Seaport Global analyst Vin Lovaglio initiates coverage on Diamondback Energy (NASDAQ:FANG) with a Neutral rating.
Seaport Global Initiates Coverage On Occidental Petroleum With Buy Rating, Announces Price Target of $73
Seaport Global analyst Vin Lovaglio initiates coverage on Occidental Petroleum (NYSE:OXY) with a Buy rating and announces Price Target of $73.
Seaport Global Initiates Coverage On ConocoPhillips With Neutral Rating
Seaport Global analyst Vin Lovaglio initiates coverage on ConocoPhillips (NYSE:COP) with a Neutral rating.
Seaport Global Initiates Coverage On EOG Resources With Neutral Rating
Seaport Global analyst Vin Lovaglio initiates coverage on EOG Resources (NYSE:EOG) with a Neutral rating.
Oil under the U.S.-Venezuela agreement may enter U.S. reserves in November; Chevron plans to invest $7 billion in Venezuela to expand production, driving its stock price to a record high.
White House Deputy Press Secretary Anna Kelly stated that oil under the U.S.-Venezuela agreement "could enter U.S. reserves as early as November." On the same day, energy giants such as Chevron and ENI signed multiple agreements to expand production in Venezuela. Chevron plans to invest $7 billion, aiming to double its oil output in Venezuela to 600,000 barrels per day within five years, while projecting total extraction costs of below $20 per barrel. Chevron's shares closed up 0.35% on Wednesday, surpassing their March highs and reaching a record high.