BofA Securities Upgrades Exxon Mobil(XOM.US) to Buy Rating, Maintains Target Price $154

Futu News07:31 · Ratings

U.S. Strategic Petroleum Reserve falls to its lowest level since 1983.

The U.S. Strategic Petroleum Reserve has fallen to its lowest level in over 40 years, following emergency drawdowns aimed at alleviating supply disruptions triggered by the Iran conflict. Data released by the U.S. Department of Energy on Monday showed that as of June 12, the reserve stood at 340.3 million barrels—the lowest level since the summer of 1983—down nearly 9 million barrels from the previous week. This comes as oil executives have issued warnings that global inventories are rapidly depleting to critical levels, coinciding with an agreement set to be signed between the U.S. and Iran on Friday aimed at reopening the Strait of Hormuz. Neil Chapman, Senior Vice President of Exxon Mobil, stated on May 28 in New

Global Markets Update06:30

Express News | Exxonmobil Applies for Environmental Authorization for 35-Well Exploration Campaign in Stabroek Block, Offshore Guyana

Breakings06:25

A preliminary agreement has been reached in the U.S.-Iran peace talks, easing market expectations for interest rate hikes due to lower crude oil prices; the dollar continued to decline to ¥160.03 and $1.1584.

[London Market Summary] On the 15th, the dollar-yen pair struggled to gain traction in the London foreign exchange market. Risk appetite broadened amid a peace agreement between the United States and Iran, pushing the pair up from ¥160.07 to ¥160.15. However, gains were capped due to concerns over potential foreign exchange intervention. The euro-dollar rose from $1.1597 to $1.1610 as dollar selling intensified following a sharp decline in crude oil prices. The euro-yen was lifted to ¥185.72, supported by the euro-dollar's firm tone and higher European equities.

Fisco Japan04:55

U.S. equity markets extended gains on positive sentiment following a preliminary agreement on Iran peace talks (15th).

U.S. equity markets extended gains, with the Dow Jones Industrial Average closing up 468.77 points at 51,671.03 and the Nasdaq Composite ending 795.10 points higher at 26,683.94. Markets rose after the opening bell, buoyed by positive sentiment surrounding a provisional agreement on Iran peace talks. President Trump stated that the Strait of Hormuz would fully reopen upon his signing of the agreement on the 19th, leading to a decline in crude oil prices and easing inflation concerns, which further supported market gains. Trading remained firm throughout the day, with the Dow hitting a record high before closing. By sector, semiconductors and semiconductor equipment outperformed.

Fisco Japan04:52

Oil prices may fall toward $70! JPMorgan: Global equity rotation is set to resume.

With a peace agreement between the U.S. and Iran imminent, JPMorgan strategist Ward expects oil prices to potentially drop to $70 in the coming weeks. She believes sustained downward pressure on oil prices would reignite the market rotation previously interrupted, providing tailwinds for equities; meanwhile, lower oil prices could create room for central banks to cut interest rates, offering additional support to stock valuations.

wallstreetcn02:13