Chevron Corporation

$CVX

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356 stories mentioning Chevron CorporationUpdated 2d ago

Chevron in focus as Moody's flagged windfall earnings for major oil producers from a Hormuz closure, while US-Iran peace news moved energy shares.

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Asia Markets34d ago

Update: US Equity Indexes Decline as Fading Hopes for Quick Hormuz Reopening Lift Crude Oil, Treasury Yields

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes slipped as government bond yields and crude oil jumped after President Donald Trump's rhetorical call for Iran to pay compensation dimmed hopes for a quick reopening of the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas outflows.The Nasdaq Composite fell 0.3% to 26,605.36, and the Dow Jones Industrial Average fell 0.1% to 53,975.98 on Monday. The S&P 500 slipped less than 0.1% to 7,753.11.Energy and healthcare led the gainers while real estate and utilities were among the steepest decliners.Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions -- compensation and an end to sanctions and military threats -- before the critical waterway is reopened, Reuters reported.The US must lift its blockade of ports before Tehran agrees to fully reopen Hormuz, Iran's Foreign Ministry Spokesman Esmail Baghaei said Monday, according to CNBC. "As long as the US naval blockade continues, the necessary conditions for the reopening of Hormuz do not exist," Baghaei was cited as saying to Iran's news agency, Tasnim."I am likewise demanding compensation from Iran, for all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts, for which they are famous..." President Donald Trump said in a Truth Social post. "Additionally, compensation should be paid to the families of the hundreds of thousands of innocent protestors that Iran has killed over the last 50 years..."The front-month US West Texas Intermediate crude oil contract jumped 5.2% to $82.22 a barrel, and global benchmark North Sea Brent advanced 5% to $87.76 a barrel, reflecting concern that Iran and the US are not getting closer to resolving the war.Shares of Chevron (CVX) were up 4.5%, the biggest gainer on the Dow.US Treasury yields rose, with the 10-year yield up 4.5 basis points to 4.7% and the two-year climbing 3.7 basis points to 4.24%.Gold futures rose 1.1% to $4,448.9, and silver futures jumped 3.8% to $65.92.In company news, Apple (AAPL) has enabled eligible Mac users in mainland China to connect Alibaba's (BABA) Qwen artificial intelligence service to Siri and Writing Tools, Reuters reported Friday. The arrangement gives Apple a locally developed AI option for Mac users in China, the report said.Jefferies downgraded Apple to underperform from hold while adjusting its price target to $263.66 from $285.56. Shares of Apple dropped 1.5%, one of the worst performers on the Dow.S&P 500 companies' quarterly earnings growth rate eased from a week ago as the healthcare sector's results weighed, Oppenheimer Asset Management said, adding that results overall remain "strong." Some 89% of the companies in the benchmark index have reported results, with earnings up by about 51% year over year, compared with 57% growth a week ago.

Dow JonesNasdaq CompositeS&P 500$AAPL$BABA$CVX

Japan34d ago

Update: US Equity Indexes Fall Amid Higher Crude Oil Prices, Treasury Yields

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes edged lower amid gains in government bond yields and crude oil as President Donald Trump's rhetorical call for Iran to pay compensation dimmed hopes for a quick reopening of the Strait of Hormuz.The Nasdaq Composite fell 0.3% to 26,617.5, with the Dow Jones Industrial Average down 0.3% to 53,891.2 ahead of Monday's close. The S&P 500 slipped less than 0.1% to 7,752.2.Energy and healthcare led the gainers while real estate and utilities were among the steepest decliners.Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions -- compensation and an end to sanctions and military threats -- before the critical waterway is reopened, Reuters reported."I am likewise demanding compensation from Iran, for all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts, for which they are famous..." President Donald Trump said in a Truth Social post. "Additionally, compensation should be paid to the families of the hundreds of thousands of innocent protestors that Iran has killed over the last 50 years..."The front-month US West Texas Intermediate crude oil contract jumped 4.9% to $81.98 a barrel, and global benchmark North Sea Brent advanced 4.8% to $87.52 a barrel.Shares of Chevron (CVX) were up 4.3%, the biggest gainer on the Dow.US Treasury yields rose, with the 10-year yield up 4.7 basis points to 4.71% and the two-year higher by 3.9 basis points to 4.24%.

Dow JonesNasdaq CompositeS&P 500$CVX

Asia Markets34d ago

Update: US Equity Indexes Mixed as Crude Oil, Treasury Yields Jump Amid Worsening Iran Geopolitics

(Updates with index/price moves and company news from the first paragraph.)US equity indexes were mixed in midday trading on Monday amid gains in government bond yields and higher crude oil prices as hopes faded for a quick reopening of the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas flows.The Nasdaq Composite slipped 0.3% to 26,614.4, with the Dow Jones Industrial Average down 0.3% to 53,905.1. The S&P 500 was little changed at 7,755.6.Energy and healthcare led the gainers while real estate, technology and utilities were among the steepest decliners.Shares of Chevron (CVX) were up 4%, the biggest gainer on the Dow.President Donald Trump signaled a US emphasis on increasing economic pressure on Iran, saying that Washington is "low-keying" negotiations with the country, CNN reported.Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions -- compensation and an end to sanctions and military threats -- before the critical waterway is reopened, Reuters reported.The Iranian official, who had issued the demands on behalf of the Islamic Republic, has been replaced by the country's supreme leader with a veteran Revolutionary Guards commander who has previously voiced skepticism about talks with the US, CNN reported.The front-month US West Texas Intermediate crude oil contract jumped 4.2% to $81.49 a barrel, and global benchmark North Sea Brent advanced 4.3% to $87.09 a barrel.US Treasury yields rose, with the 10-year yield up 4.3 basis points to 4.7% and the two-year higher by 3.7 basis points to 4.24%.Gold futures rose 0.4% to $4,416.9, and silver futures jumped 2.8% to $65.27.In company news, Trade Desk (TTD) slid 5.5%, one of the worst performers on the S&P 500, following stock rating downgrades from multiple brokerages, including DA Davidson.Apple (AAPL) has enabled eligible Mac users in mainland China to connect Alibaba's (BABA) Qwen artificial intelligence service to Siri and Writing Tools, Reuters reported Friday. The arrangement gives Apple a locally developed AI option for Mac users in China, the report said. Jefferies downgraded Apple to underperform from hold while adjusting its price target to $263.66 from $285.56.Shares of Apple dropped 2%, one of the worst performers on the Dow.

Dow JonesNasdaq CompositeS&P 500$AAPL$BABA$CVX$TTD

Insider Trading37d ago

Chevron Insider Sold Shares Worth $1,037,266, According to a Recent SEC Filing

Michael K Wirth, Director, Chairman and CEO, on August 05, 2026, sold 5,547 shares in Chevron (CVX) for $1,037,266. Following the Form 4 filing with the SEC, Wirth has control over a total of 63,179 common shares of the company, with 26,308 shares held directly and 36,871 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/93410/000009341026000169/xslF345X05/form4.xml

$CVX

Equities39d ago

TD Cowen Adjusts Price Target on Chevron to $205 From $200, Maintains Hold Rating

Chevron (CVX) has an average rating of overweight and mean price target of $217, according to analysts polled by FactSet.

$CVX

Wire40d ago

Market Chatter: White House Set to Extend Jones Act Waiver in Bid to Lower Gas Prices

The Trump administration is expected to extend a waiver of the Jones Act in the coming days to keep a lid on gasoline prices, Reuters reported Tuesday, citing unnamed sources.The Jones Act requires cargo moving between US ports to be carried by US-built ships, owned by US companies and operated by American crews, the report said.The White House didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $154.78, Change: $-0.28, Percent Change: -0.18%

$CVX$XOM

Wire40d ago

White House Set to Extend Jones Act Waiver in Bid to Lower Gas Prices, Reuters Reports

$CVX$XOM

Asia Markets40d ago

Update: Palantir Earnings Beat, Tech Stock Rally Lift US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Tuesday as technology-related stocks were on the upswing, highlighted by a Q2 beat-and-raise from Palantir Technologies (PLTR).Dow Jones Industrial Average futures were 1.2% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 1.1% higher.Palantir shares were up more than 15% in pre-market activity after the company posted Q2 adjusted earnings and revenue that surpassed analysts' estimates, as well as boosting its full-year 2026 revenue outlook.President Donald Trump said late Monday that Exxon Mobil (XOM) and Chevron (CVX) had made "too much money" off higher oil prices and told them to "give some of that back to the public," multiple media outlets reported.SpaceX (SPCX) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect a loss of $0.23 per share on revenue of $6.83 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.4% at $81.77 per barrel and US West Texas Intermediate crude 3.1% lower at $77.86 per barrel.The US international trade deficit narrowed to $73.26 billion in June from revised $77.65 billion gap in May, compared with a $73.0 billion gap expected in a survey compiled by Bloomberg.June factory orders, due at 10 am ET, are expected to have gained 0.2%, compared with a decline of 1.3% previously. June job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.454 million, compared with 7.594 million in the prior month.In other world markets, Japan's Nikkei closed 0.3% higher, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.3% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, Caterpillar (CAT) shares rose 11% after the company's Q2 adjusted profit and revenue beat analysts' consensus. Merck (MRK) stock was up 0.9% after the company posted better-than-expected Q2 results. Broadcom (AVGO) shares were 2.7% higher and Micron Technology (MU) stock was up 4.5% as part of a broader rally in technology stocks.On the losing side, HSBC (HSBC) shares fell 2% despite the company posting higher basic earnings and revenue for Q2. Prologis (PLD) stock was down 3% after the company said it reached a recommended agreement to acquire Segro in a transaction valuing the target company at about $18.8 billion.

Dow JonesNasdaq CompositeS&P 500$AVGO$CAT$CVX$HSBC$MRK$MU$PLD$PLTR$SPCX$XOM

Equities40d ago

Update: Market Chatter: Trump Says Exxon, Chevron Making 'Too Much Money'

(Update with Exxon's response to a request for comment in the last paragraph.)President Donald Trump said Exxon Mobil (XOM) and Chevron (CVX) are making "too much money" and that "they better cut the retail price," Bloomberg reported Monday, citing comments made by him at the White House.Exxon declined to comment, while Chevron didn't reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$CVX$XOM

Japan40d ago

Palantir Earnings Beat, Tech Stock Rally Lift US Equity Futures Pre-Bell

US equity futures were higher pre-bell Tuesday as technology-related stocks were on the upswing, highlighted by a Q2 beat-and-raise from Palantir Technologies (PLTR).Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.9% higher.Palantir shares were up more than 15% in pre-market activity after the company posted Q2 adjusted earnings and revenue that surpassed analysts' estimates, as well as boosting its full-year 2026 revenue outlook.President Donald Trump said late Monday that Exxon Mobil (XOM) and Chevron (CVX) had made "too much money" off higher oil prices and told them to "give some of that back to the public," multiple media outlets reported.SpaceX (SPCX) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect a loss of $0.23 per share on revenue of $6.83 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.6% at $82.35 per barrel and US West Texas Intermediate crude 2.5% lower at $78.30 per barrel.The international trade in goods report for June, scheduled for release at 8:30 am ET, is expected to post a deficit narrowing to $73.0 billion from $77.6 billion in the prior month, according to estimates compiled by Bloomberg.June factory orders, due at 10 am ET, are expected to have gained 0.2%, compared with a decline of 1.3% previously. June job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.454 million, compared with 7.594 million in the prior month.

Dow JonesNasdaq CompositeS&P 500$CVX$PLTR$SPCX$XOM

Commodities40d ago

HF Sinclair Secures Long-Term Supply Agreements With Chevron, SK Enmove

HF Sinclair (DINO) said Monday its Lubricants and Specialties segment has entered into strategic long-term commercial agreements with SK Enmove and Chevron Products Company, a division of Chevron (CVX), establishing a diversified base oil supply network across North America.Under the terms, SK Enmove will supply Group III base oils, while Chevron will supply Group II base oils.In turn, HF Sinclair's segment will act as SK Enmove's distributor for Yubase Group III base oils in key regional North American markets and distribute Chevron-branded Group II base oils in Canada and select US regions.Combined with ongoing specialty production from HF Sinclair's Tulsa refinery, the portfolio will cover Group I, II, and III base oils, the company stated.The complete transition to this new base oil solutions and distribution model is expected to be finalized in the second half of 2027, as per the statement.

$CVX$DINO

Oil & Energy40d ago

EMEA Oil Update: Oil Benchmarks Rebound as Supply Concerns Linger

Crude oil futures rebounded on Tuesday after sliding sharply in the last session as persistent shipping bottlenecks in the Strait of Hormuz and sliding Saudi exports underscored ongoing supply vulnerabilities.Brent crude futures gained by 1.1% to $84.72 per barrel, while Murban crude futures added 0.9% to $81.77/bbl."Oil sold off sharply yesterday on optimism that a Middle East deal might be within reach. However, markets may be getting ahead of themselves once again," ING analysts said.Saudi Arabia's crude oil exports slipped in July as security risks in the Persian Gulf and Red Sea disrupted tanker movements, Bloomberg reported on Monday.Commercial vessel traffic remained severely constrained, with MarineTraffic data showing just nine crossings through the Strait of Hormuz on August 2, down from 23 on July 31, while activity via the Bab el-Mandeb also eased.ING highlighted that Iran's public denials of talks and President Trump's warning of renewed escalation leave ample room for market volatility.US President Donald Trump stated on Monday that negotiations with Iran are continuing, describing the diplomatic push as Tehran's "last chance" while prioritizing the reopening of the Strait of Hormuz.Trump noted that talks are ongoing at the request of Iran and regional partners, including Saudi Arabia, the UAE, and Qatar, despite Tehran's earlier denials.Meanwhile, regulatory and policy shifts emerged in Asia as India raised windfall taxes on petrol, diesel, and aviation fuel exports.Additionally, state-run Oil and Natural Gas Corporation announced it will reserve half of its planned 1.75 million-metric-ton oil storage facility in Mangaluru for national strategic petroleum reserves.Meanwhile, Trump publicly criticized energy giants ExxonMobil (XOM) and Chevron (CVX) on Monday for making "too much money" off higher fuel prices following robust second-quarter earnings, calling on the companies to return capital to the public.

$CVX$XOM

Oil & Energy41d ago

Trump Calls Iran Talks 'Last Chance' as Strait of Hormuz Reopening Tops Agenda

US President Donald Trump said Monday that Iran negotiations are continuing after he delayed planned military action, calling the talks Tehran's "last chance" while prioritizing reopening the Strait of Hormuz.The president made the remarks while speaking to reporters after signing an executive order at the White House.Trump said US and Iranian officials currently remain in talks despite Tehran's earlier public denials. "We're talking, and we're talking at the request of Iran, backed by Saudi Arabia, backed by UAE, and backed by Qatar in particular, but others also," he said.He said the US had prepared a major military strike before postponing the operation after Iran sought negotiations."We were going to hit them very hard yesterday [Sunday]...," he said, adding, "... this is a last chance for them to sign a good document."Trump said he still has military options available but prefers diplomacy. "I want to give them every last chance before decapitation," he added.Trump said reopening the Strait of Hormuz remains the immediate priority. "We're talking about the Strait... having it open literally by tomorrow, completely open, and that's phase one," he said.He said negotiations would then shift to Iran's nuclear program. "The second phase will be the denuclearization and that'll take a little while," Trump said.Asked whether Iran could impose transit charges in the Strait of Hormuz, Trump rejected the idea. "I'm not going to let them charge," he said."If anybody's going to charge, we'll charge," Trump said, adding the US has "total control" of the waterway.Trump also linked a potential agreement with lower energy prices. "You're going to see oil, when we're finished with Iran, you're going to see the prices drop through the floor," he said.He criticized major US oil producers for reporting strong earnings. "They're making too much money... they better cut the retail price, the consumer price," Trump said of Exxon Mobil (XOM) and Chevron (CVX).Trump also urged the UK to expand North Sea oil production, arguing the country could sharply reduce energy costs."You could cut them [prices] in half. You could give away free energy if you'd open up the North Sea ...," he said.

$CVX$XOM

Sectors41d ago

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks declined late Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each falling 1.6%.The Philadelphia Oil Service Sector Index was down 1.5%, and the Dow Jones US Utilities Index was easing 0.2%.Crude oil prices fell after US President Donald Trump said talks with Iran were set to begin Monday after he called off a planned military strike against the Gulf nation. Over the weekend, Trump said negotiations with Iran would begin Monday, without revealing the venue or participants, news outlets reported. In a social media post, Trump said he had called off a planned attack against Iran after being asked by Tehran and other Middle Eastern countries because the "perimeters of a deal has been agreed to."Front-month West Texas Intermediate crude oil fell 5.1% to $80.34 a barrel, and the global benchmark Brent crude contract dropped 4.5% to $83.98 a barrel. Henry Hub natural gas futures rose 1% to $2.77 per 1 million BTU.In corporate news, Shell (SHEL) said Monday it has agreed to sell its European onshore renewables portfolio to TotalEnergies (TTE). Shell was down 0.8%, and TotalEnergies eased 0.5%.Chevron (CVX) said it will expand its North American base oils distribution network through new agreements with HF Sinclair Lubricants & Specialties and Renkert Oil, starting May 1, 2027. Chevron shares were shedding 1.9%.President Donald Trump said Exxon Mobil (XOM) and Chevron are making "too much money" and that "they better cut the retail price," Bloomberg reported Monday, citing comments made by him at the White House. Exxon shares were down 0.5%.BP (BP) has completed the sale of its Gelsenkirchen refinery and related businesses in Germany to Klesch, the company said. BP shares were falling 2.3%.

$BP$CVX$SHEL$TTE$XOM

Sectors41d ago

Sector Update: Energy

$CVX$XOM

Wire41d ago

Market Chatter: Trump Says Exxon, Chevron Making 'Too Much Money'

President Donald Trump said Exxon Mobil (XOM) and Chevron (CVX) are making "too much money" and that "they better cut the retail price," Bloomberg reported Monday, citing comments made by him at the White House.Exxon and Chevron didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $154.75, Change: $-0.69, Percent Change: -0.44%

$CVX$XOM

Wire41d ago

Trump Says Exxon, Chevron Making 'Too Much Money,' Bloomberg Reports

$CVX$XOM

Sectors41d ago

Sector Update: Energy Stocks Fall Monday Afternoon

Energy stocks declined Monday afternoon, with the NYSE Energy Sector Index falling 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.1%.The Philadelphia Oil Service Sector Index was down 1.1%, and the Dow Jones US Utilities Index was fractionally lower.Crude oil prices fell after US President Donald Trump said talks with Iran were set to begin Monday after he called off a planned military strike against the Gulf nation. Over the weekend, Trump said negotiations with Iran would begin Monday, without revealing the venue or participants, news outlets reported. In a social media post, Trump said he had called off a planned attack against Iran after being asked by Tehran and other Middle Eastern countries because the "perimeters of a deal has been agreed to."Front-month West Texas Intermediate crude oil fell 5.6% to $79.97 a barrel, and the global benchmark Brent crude contract dropped 4.6% to $83.85 a barrel. Henry Hub natural gas futures rose 0.5% to $2.76 per 1 million BTU.In corporate news, Shell (SHEL) said Monday it has agreed to sell its European onshore renewables portfolio to TotalEnergies (TTE). Shell was down 0.8%, and TotalEnergies eased 0.4%.Chevron (CVX) said it will expand its North American base oils distribution network through new agreements with HF Sinclair Lubricants & Specialties and Renkert Oil, starting May 1, 2027. Chevron shares were shedding 1.6%.BP (BP) has completed the sale of its Gelsenkirchen refinery and related businesses in Germany to Klesch, the company said. BP shares were falling 1.8%.

$BP$CVX$SHEL$TTE

Commodities41d ago

US Land Rig Count Holds at 572 While Oilfield Services Stocks Decline, RBC Says

US active land drilling rigs held steady at 572 last week as the Permian added rigs, while oilfield services stocks declined and basin activity remained mixed, RBC Capital Markets said in a Monday note.The Baker Hughes (BKR) US land rig count remained unchanged at 572. Oil rigs held at 436 and gas rigs stayed at 127, while oil rigs increased by four over the month and gas rigs rose by one.The Permian added two rigs to 260, accounting for 59% of Lower 48 oil rigs and 45% of total US land rigs, according to RBC.Among drillers, Helmerich & Payne (HP) operated 90 Permian rigs, or 32% of the total, followed by Patterson-UTI (PTEN) with 32 rigs, or 11%, and Nabors Industries (NBR) with 29 rigs, or 10%, RBC said.Among operators, ExxonMobil (XOM) led the Permian with 35 rigs, followed by Devon Energy (DVN) and Occidental Petroleum (OXY) with 21 rigs each. Private operators accounted for 45% of active Permian rigs, up from 42% a year earlier.The Eagle Ford also added two rigs to 49. Among drillers, Helmerich & Payne operated 17 rigs, Nabors Industries had 12 and Patterson-UTI had seven, RBC said.Among operators, ConocoPhillips (COP) led the Eagle Ford with seven rigs, followed by EOG Resources (EOG) with six and Crescent Energy (CRGY) with four. Private operators accounted for 54% of active Eagle Ford rigs, up from 36% a year earlier, RBC said.The Williston rig count remained unchanged at 27. Among drillers, Nabors Industries operated 16 rigs, Patterson-UTI had seven and Helmerich & Payne had five, according to RBC.Among operators, Chord Energy (CHRD) led the Williston with five rigs, while Chevron (CVX) and ConocoPhillips each operated three. Public operators accounted for 37% of active rigs, compared with 38% a year earlier, RBC said.Oilfield services stocks under RBC coverage declined 3.3% over the week, while West Texas Intermediate crude fell 3.8%. Liberty Energy (LBRT) gained 7.8%, Baker Hughes rose 5.7% and Nabors Industries advanced 2.8%.The weakest performers were Atlas Energy Solutions (AESI), down 9.8%, Trican Well Service, down 11%, and Ensign Energy Services, down 11.6%.RBC added that its oilfield services coverage group has gained 30.1% year to date, compared with a 10.1% gain for the S&P 500 Index.Price: $60.46, Change: $-0.03, Percent Change: -0.05%

$AESI$BKR$CHRD$COP$CRGY$CVX$DVN$EOG$HP$LBRT$NBR$OXY$PTEN$XOM

Oil & Energy41d ago

Trump Criticizes Iran's Negotiation Stance, Asserts US Control of Strait of Hormuz

US President Donald Trump on Monday criticized Iran's handling of nuclear negotiations, saying Tehran sought talks while publicly denying them, and asserted US control over the Strait of Hormuz, according to posts on Truth Social.Trump criticized Iran's leadership for what he described as conflicting signals on negotiations, saying Tehran publicly claims it is only dealing with Oman.He also dismissed Iran's claims that it controls the Strait of Hormuz, saying the US Navy already controls the waterway through what he called the "United States wall of steel," he said.Trump said the US controls what enters Iran. "Nothing gets through to Iran, unless we want it to, and nothing will get through, unless a deal, or total surrender, is accomplished."The US president reiterated his administration's position on Iran's nuclear program, writing, "It is very simple, Iran will never have a nuclear weapon!" he said.Meanwhile, Iran's Islamic Revolutionary Guard Corps ground forces commander General Mohammad Karami reportedly said that the IRGC is ready to face any threat."With intelligence superiority, operational readiness, ... technology and modern sciences, we are prepared to deliver a decisive response to any threat posed by foreign adversaries and terrorist groups," according to an X post by Iran's PressTV, citing Karami.In a separate Truth Social post, Trump credited his administration for the US oil industry's recovery while discussing Chevron (CVX) chairman and chief executive Mike Wirth's recent Fox News interview, saying the administration's policies helped Chevron and other oil companies return to Venezuela.Trump cited Chevron's return to Venezuela as an example, saying the company is back "far bigger and stronger than ever before, expecting to make a fortune!" and added that other oil companies are benefiting as well.Trump also urged energy producers to reduce prices for consumers, writing, "... get your consumer (retail!) oil prices down, now!" he said.Price: $194.77, Change: $-2.06, Percent Change: -1.05%

$CVX

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