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Sectors

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1%.The Philadelphia Oil Service Sector Index was climbing 1.4%, while the Dow Jones US Utilities Index fell 1.4%.Front-month West Texas Intermediate crude oil was rising 2.8% to $92.10 a barrel, and the global benchmark Brent crude contract was advancing 3% to $98.30 a barrel. Henry Hub natural gas futures slightly increased to $2.69 per 1 million BTU.In corporate news, Halliburton (HAL) shares gained 3.7% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.Spain's National Markets and Competition Commission, or CNMC, has shelved its investigation into BP (BP), Repsol, and Cepsa's alleged collusive practices and abuse of their dominant market position, according to a translation of a Tuesday statement from the regulator. BP shares gained 1.5%.Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported, citing court documents. Shell shares were up 0.4%.BHP (BHP) is looking to pursue large-scale copper exploration in Zambia, Reuters reported Tuesday, citing the country's mines ministry. The company is targeting major deposits that are harder to detect using traditional methods, focusing on deeply buried or geologically concealed resources, the mines ministry quoted Campbell McCuaig, BHP's head of global generative exploration, as saying, Reuters reported. BHP shares were down 1.9%.

$BHP$BP$HAL$SHEL
Sectors

Sector Update: Energy Stocks Edge Higher Premarket Tuesday

Energy stocks were edging higher premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.2%.The United States Oil Fund (USO) was up 0.2% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 0.1% lower at $89.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.4% to $95.07 per barrel, and natural gas futures were down 0.2% at $2.69 per 1 million British Thermal Units.Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported, citing court documents. Shares of Shell were 0.7% higher pre-bell.Spain's National Markets and Competition Commission, or CNMC, has shelved its investigation into BP (BP), Repsol, and Cepsa's alleged collusive practices and abuse of their dominant market position, according to a translation of a statement from the regulator. BP stock was up 0.6% premarket.Halliburton (HAL) stock was up more than 1% after the company reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.

$BP$HAL$SHEL$UNG$USO$XLE
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday Amid Second Round of US-Iran Talks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.3% in Tuesday's premarket activity, amid a second round of talks between the US and Iran.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.4% before the start of regular trading.The Philadelphia Federal Reserve Bank's monthly non-manufacturing activity index rose to minus 16.5 in April from minus 23.9 in the previous month, compared with expectations for a small increase to a minus 19.8 reading in a survey compiled by Bloomberg as of 7:35 am ET, indicating a slower pace of contraction in the sector.US retail sales rose 1.7% in March, above expectations for a 1.4% increase and compared with a prior 0.7% gain.The pending home sales data for March and the business inventories data for February will be released at 10:00 am ET.Fed Governor Christopher Waller is slated to speak on Tuesday.In premarket action, bitcoin advanced by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% higher, Ether ETF (EETH) retreated 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.3%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) gained 0.8%, the Vanguard Health Care Index Fund (VHT) was 0.9% higher, while the iShares US Healthcare ETF (IYH) rose 2%. The iShares Biotechnology ETF (IBB) advanced 0.02%.UnitedHealth (UNH) stock was up more than 7% premarket after the company reported higher Q1 adjusted earnings and revenue.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.MSCI (MSCI) shares were up more than 4% pre-bell after the company reported higher Q1 adjusted earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.3%, and the iShares US Technology ETF (IYW) was 0.6% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.9%, while the iShares Semiconductor ETF (SOXX) rose by 1%.Onto Innovation (ONTO) shares were up more than 2% in Tuesday's premarket activity after the company said it plans for a $710 million equity investment in Rigaku to advance the so-called process control services for semiconductor manufacturing.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated by 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.3% lower. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.9%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.6% higher.D.R. Horton (DHI) shares were up more than 6% pre-bell after the company reported higher-than-expected fiscal Q2 net income and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) slipped by 0.1%, while the Vanguard Industrials Index Fund (VIS) retreated 0.2% and the iShares US Industrials ETF (IYJ) was inactive.Grupo Aeroportuario del Pacifico (PAC) stock was down more than 1% before the opening bell after the company said its Q1 passenger traffic dropped by 5.5% year-over-year, even as its net income and revenue were higher.EnergyThe iShares US Energy ETF (IYE) was up 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.Shell (SHEL) stock was up 0.7% before the opening bell. Reuters reported, citing court documents, that the company faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.4% to $89.29 per barrel on the New York Mercantile Exchange. Natural gas declined by 0.8% to $2.67 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.9%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for May were down by 0.4% to $4,812.10 an ounce on the Comex. Silver futures retreated by 1.1% to $79.73 an ounce. SPDR Gold Shares (GLD) was 0.4% lower, and the iShares Silver Trust (SLV) fell by 0.7%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$DHI$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MSCI$ONTO$PAC$PMR$QQQ$RTH$SHEL$SLV$SOXX$SPY$UNG$UNH$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Energy

Energy stocks were edging higher premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.2%.The United States Oil Fund (USO) was up 0.3% and the United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 0.2% lower at $89.40 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.2% to $95.34 per barrel, and natural gas futures were down marginally at $2.69 per 1 million British Thermal Units.Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported, citing court documents. Shares of Shell were 0.7% higher pre-bell.

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Commodities

Shell Sees Dutch Environmental Group Court Case 'Unrealistic, Unreasonable'

A new court case filed by Dutch environmental group Milieudefensie against Shell (SHEL) seeking to ban any new oil and gas development in the Netherlands was "unrealistic, unreasonable, and fundamentally misplaced," according to a statement by the oil supermajor on Tuesday.Milieudefensie reportedly said that Shell must stop drilling new hydrocarbon fields to reduce climate-disrupting activities, and asked the company to reduce its emissions between 2030 and 2050, in line with the Paris Agreement.Shell responded that the claim "ignores the role oil and gas will continue to play over the coming decades," and "is disconnected from the realities of the global energy system.""Investments in oil and gas development will be needed to offset natural decline and ensure security of energy supply in the coming years as renewable energy sources continue to grow and become more widely available," the company said.Shell also highlighted that discontinuing field developments will not reduce global emissions, as production rights will just be transferred to other companies.Since the resources are owned by the respective countries, "it is up to governments, not Milieudefensie, to decide how to develop their natural resources," according to Shell.In 2024, The Hague Court of Appeal dismissed Milieudefensie's first case against Shell, which sought a 45% reduction in emissions by 2030 relative to 2019 levels.In May, the case will be heard by the Supreme Court in The Hague, following an appeal by the environmental group.Shell said its oil and gas production only accounts for up to 2% of the world's total output, while state-owned companies contribute more than half of global production and 60% of reserves.It aims to raise total Integrated Gas and Upstream production by 1% per year through 2030, with liquids production at around 1.4 million barrels per day.Shell has invested around $20 billion in low-carbon platforms globally, and intends to expand the portfolio subject to demand and government policies, the company said.

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Equities

Shell Faces Lawsuit by Dutch Environmental Group Demanding it Halt New Oil, Gas Projects

Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported Tuesday, citing court documents."Shell must stop bringing new oil and gas fields into production. This is necessary to protect us from Shell's climate-disrupting activities," Friends of the Earth Netherlands, or Milieudefensie, said in the filing, Reuters reported.The organization said on its website last week that it planned action against Shell.Shell in a statement posted to its website called the case "unrealistic, unreasonable," and "fundamentally misplaced.""It ignores the role oil and gas will continue to play over the coming decades as renewables become more widely available," said Shell."We agree with Milieudefensie that current geopolitical shifts make clear that the energy transition is essential," said Shell. "Reliable and affordable energy is critical for economies to function, for industries to operate and for people to meet their basic needs."

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Commodities

Higher Crude Prices Could Unleash South American Output Surge, Rystad Energy Says

South America could unleash over 2 million barrels per day of new crude supply by the mid-2030s if prices hold near $100 per barrel, Rystad Energy strategists said in a note Monday, citing offshore developments in Brazil, Guyana, Suriname and a potential rebound in Venezuela.Rystad analysts said that the closure of the Strait of Hormuz has led to an upward revision of its 2026 Brent forecast to $89/bbl, up from $60/bbl in January, boosting government revenues across South America by an estimated $43 billion in 2026.Brazil's Petrobras (PBR) is set to benefit most, with revenues projected to rise to $13.1 billion under the new price outlook."South America is now positioned as the world's most consequential source of incremental supply," Radhika Bansal, senior vice president for oil and gas research at Rystad, said, adding that the region offers scale, geologic quality and relative political stability.Fast tracked offshore projects in Brazil, Guyana and Suriname could add over 1 million barrels of oil equivalent per day over the next decade, supported by about $33 billion in additional greenfield investment through 2035.ExxonMobil's (XOM) Yellowtail development in Guyana, which started up at 250,000 b/d, is targeting 300,000 b/d. Rystad said similar debottlenecking could unlock 80,000-90,000 b/d across the Errea Wittu, Jaguar and Hammerhead fields.The largest upside, however, lies in accelerating final investment decisions on new projects. Limited global shipyard capacity for new floating production, storage, and offloading vessels remains the main bottleneck.Meanwhile, Venezuela could add 910,000 b/d by 2035 under a $100 oil scenario, Rystad said, with 57% of the increase coming from existing fields in the East and West.The consultancy said global oil firms are cautiously returning. ExxonMobil, whose CEO labeled Venezuela "uninvestable" in January, has since dispatched technical teams to evaluate opportunities.Shell also signed preliminary agreements with Venezuelan state-owned energy firm PDVSA in March covering offshore gas and onshore exploration.Rystad said upside could grow if more companies follow Chevron (CVX), Eni (E), Repsol and Shell (SHEL) in partnering with PDVSA to revive underdeveloped fields.Argentina's Vaca Muerta shale formation is also expected to drive long-term growth, with production forecast to rise from about 600,000 b/d currently to 1 million b/d by the end of the decade, and potentially 1.8 million b/d by 2035.Export growth would be constrained by the capacity of the Vaca Muerta Oil Sur pipeline, which Rystad identified as a potential bottleneck.Rystad analysts said the pace of South American supply growth will depend less on resource availability and more on execution capacity, infrastructure constraints and regulatory frameworks."Countries that provide clear fiscal and regulatory frameworks are better positioned to accelerate project sanctions and capture the upside from higher prices," Bansal said.

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Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were sharply lower late Friday afternoon, with the NYSE Energy Sector Index dropping 3.7% and the State Street Energy Select Sector SPDR ETF (XLE) falling 2.8%.The Philadelphia Oil Service Sector Index declined 1.1%, and the Dow Jones US Utilities Index decreased 0.5%.In sector news, oil prices plunged Friday as Iran's foreign minister said the Strait of Hormuz is "completely open" following a ceasefire in Lebanon. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iran's Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Front-month West Texas Intermediate crude oil slumped 11% to $84.23 a barrel, and the global benchmark Brent crude contract dropped 9.2% to $90.28 a barrel. Henry Hub natural gas futures rose 1.2% to $2.68 per 1 million BTU.In corporate news, Chevron (CVX), Exxon Mobil (XOM) and other major oil companies received backing from the US Supreme Court on Friday as the court ruled that lawsuits filed by Louisiana officials accusing them of harming the state's coastal areas should be transferred out of the state courts and into federal court, according to a court document. Chevron shares were down 2.1%, and Exxon shed 3.6%.An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Co., the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil, Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg reported. Shell shares dropped 4%, TotalEnergies shed 4.1%, and Eni fell 5.6%.Petrobras (PBR) said Friday it signed an agreement with Oranto Petroleum to buy a 75% working interest and assume operatorship of Block 3, an offshore exploration site in Sao Tome and Principe. Petrobras shares were down 4.9%.Exelon (EXC) shares fell 1.2% after multiple brokerages downgraded the energy provider.

$CVX$E$EXC$PBR$SHEL$TTE$XOM
Sectors

Sector Update: Energy Stocks Fall Friday Afternoon

Energy stocks were sharply lower Friday afternoon, with the NYSE Energy Sector Index dropping 4.4% and the State Street Energy Select Sector SPDR ETF (XLE) falling 3.4%.The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index was down 0.7%.In sector news, oil prices plunged Friday as Iran's foreign minister said the Strait of Hormuz is "completely open" following a ceasefire in Lebanon. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iran's Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Front-month West Texas Intermediate crude oil slumped 12% to $83.24 a barrel, and the global benchmark Brent crude contract dropped 10% to $89.24 a barrel. Henry Hub natural gas futures rose 1.8% to $2.69 per 1 million BTU.In corporate news, an Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Co., the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg reported. Exxon shares fell 4.7%, Shell dropped 5.1%, TotalEnergies shed 4.9%, and Eni fell 7.2%.Petrobras (PBR) said Friday it signed an agreement with Oranto Petroleum to buy a 75% working interest and assume operatorship of Block 3, an offshore exploration site in Sao Tome and Principe. Petrobras shares were down 5.6%.Critical Metals (CRML) shares surged 36% after it said Friday that the Government of Greenland has approved the transfer of the remaining 50.5% stake in Tanbreez Mining Greenland, increasing the company's ownership to 92.5%.

$CRML$E$PBR$SHEL$TTE$XOM
Sectors

Sector Update: Energy

Energy stocks were sharply lower Friday afternoon, with the NYSE Energy Sector Index dropping 4.5% and the State Street Energy Select Sector SPDR ETF (XLE) falling 3.6%.The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index was down 0.7%.In sector news, oil prices plunged Friday as Iran's foreign minister said the Strait of Hormuz is "completely open" following a ceasefire in Lebanon. "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire," Iranian Foreign Minister Seyed Abbas Araghchi said Friday in a post on the X platform.Front-month West Texas Intermediate crude oil slumped 12% to $83.09 a barrel, and the global benchmark Brent crude contract dropped 10% to $88.96 a barrel. Henry Hub natural gas futures rose 1.5% to $2.69 per 1 million BTU.In corporate news, an Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Co., the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg reported. Exxon shares fell 4.7%, Shell dropped 5.1%, TotalEnergies shed 4.9%, and Eni fell 7.2%.

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Commodities

Market Chatter: Kazakh Court Rejects Oil Majors' Appeal in $5 Billion Sulfur Dispute

A Kazakh court has upheld a $5.1 billion environmental fine against the international consortium operating the Kashagan oil field, the country's second-largest crude producer, Bloomberg reported on Friday, citing the Ministry of Ecology and Natural Resources.The ruling, delivered on April 8 by an appeals court in Astana, marks a significant setback for the North Caspian Operating Company in its long-running dispute with the Kazakh government.The fine, totaling 2.36 trillion Kazakhstani tenge ($5.1 billion), was originally imposed for storing excessive amounts of sulfur at the offshore field.NCOC said it disagrees with the Astana court's ruling, while reiterating that its sulfur-management operations were in full compliance with the law. The energy firm and its shareholders plan to pursue "all available avenues of recourse against this decision to defend their rights".The sulfur fine is linked to a broader $166 billion international arbitration dispute over Kashagan, Kazakhstan's second-largest oilfield.Meanwhile, though the court decision has entered into legal force, the NCOC still has the option to file a cassation appeal, the report said.NCOC is owned by Kazakhstan's state oil and gas company, KazMunayGas, alongside Eni (E), Shell (SHEL), TotalEnergies (TTE), ExxonMobil (XOM), Inpex, and China National Petroleum.NCOC did not immediately respond to' request for comment.The oil majors are also contesting the fine through other channels. The companies filed for international arbitration in February. Individually, the companies appealed the sulfur penalty to the Committee for Environmental Regulation and Control, which has yet to issue a decision, the Ministry of Ecology said.(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: $51.22, Change: $-4.17, Percent Change: -7.53%

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Asia Markets

European Equities Traded in the US as American Depositary Receipts Sharply Higher in Friday Trading

European equities traded in the US as American depositary receipts were climbing higher late Friday morning, rising 1.06% to 1,840.68 on the S&P Europe Select ADR Index, which has gained 1.42% for the week.From continental Europe, the gainers were led by lender Banco Santander (SAN) and software firm SAP (SAP), which advanced 5.3% and 4.2%, respectively. They were followed by healthcare tech company Royal Philips (PHG) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which increased 4.1% each.The decliners from continental Europe were led by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which dropped 9% and 7.4%, respectively. They were followed by telecommunications company Ericsson (ERIC) and medical device maker EDAP TMS (EDAP), which lost 6.2% and 3.6%, respectively.The gainers from the UK were led by cruise line operator Carnival (CUK) and biopharmaceutical company NuCana (NCNA), which rose 9.3% and 7.1%, respectively. They were followed by hospitality company InterContinental Hotels Group (IHG) and lender Barclays (BCS), which were up 4.7% and 4.6%, respectively.The decliners from the UK and Ireland were led by oil and gas companies BP (BP) and Shell (SHEL), which fell 8.1% and 5.2%, respectively. They were followed by telecommunications operator Vodafone Group (VOD) and biotech firm Trinity Biotech (TRIB), which were down 2.7% and 2.6%, respectively.

$BBVA$BCS$BP$CUK$E$EDAP$EQUINOR$ERIC$IHG$NCNA$PHG$SAN$SAP$SHEL$TRIB$VOD
Sectors

Sector Update: Energy Stocks Lower Pre-Bell Friday

Energy stocks were mostly lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining 4%.The United States Oil Fund (USO) was down 9.4%, while the United States Natural Gas Fund (UNG) was 1.4% higher.Front-month US West Texas Intermediate crude oil was down 11% to $84.67 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 9.6% to $09.10 per barrel, and natural gas futures were 0.3% higher at $2.64 per 1 million British Thermal Units.An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), and Eni (E), among others, Bloomberg News reported Friday.Shell shares fell 4.7% premarket, while Exxon stock was down more than 4% before the opening bell.TotalEnergies stock fell 4.2%, and Eni was down 5.7%.

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Equities

Kazakhstan Court Upholds $5 Billion Kashagan Sulfur Fine Against Consortium Including Exxon, Shell, TotalEnergies

An Astana court upheld a 2.356 trillion tenge ($5 billion) environmental fine against North Caspian Operating Company, the operator of Kazakhstan's Kashagan oil field, whose shareholders include KazMunayGas, Exxon Mobil (XOM), Shell (SHEL), TotalEnergies (TTE), Eni (E), Inpex and China National Petroleum, Bloomberg reported Friday.Kazakhstan's Ministry of Ecology and Natural Resources told Bloomberg that the April 8 ruling confirmed penalties tied to excessive sulfur storage at the field. The decision has entered into legal force, the report said.The penalty is tied to a wider $166 billion arbitration dispute over environmental claims and state revenue from the project, the report added. Kashagan remains central to Europe's supply shift away from Russian energy after Russia's invasion of Ukraine, it said.Exxon Mobil, Shell, TotalEnergies, Eni, Inpex and China National Petroleum did not immediately respond to' request for comment.

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Sectors

Sector Update: Energy

Energy stocks were lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining 0.9%.The United States Oil Fund (USO) was down 3.8%, while the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was down 3.7% to $91.19 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 3.1% to $96.27 per barrel, and natural gas futures were 1.4% higher at $2.69 per 1 million British Thermal Units.Shell (SHEL) shares fell 1.6% premarket after gaining 1.9% in the previous close. BNP Paribas downgraded the company to neutral from outperform, and lifted its price target to $101 from $81.

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Research

BNP Paribas Downgrades Shell to Neutral From Outperform, Adjusts PT to $101 From $81

Shell (SHEL) has an average rating of overweight and mean price target of $98.59, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Commodities

Market Chatter: European Buyers Look to Canada for LNG Supplies

European energy giants, including Germany's Uniper, are in talks to secure long-term liquefied natural gas supplies from Canada's Pacific coast, Reuters reported Wednesday citing sources.The Iran conflict has sparked a strong interest in Canada's proposed Ksi Lisims LNG project from global buyers, the report said.Buyers are reportedly willing to absorb the high costs of Panama Canal transit to access stable energy sources, it said.The Ksi Lisims project is a partnership between Western LNG, Rockies LNG, and the Nisga'a First Nation.While the facility is years from completion, it has been placed on a fast-track for permitting by the government of Prime Minister Mark Carney, the report added.Energy giants Shell (SHEL) and TotalEnergies (TTE) have already secured 20-year purchase agreements with the terminal, it added.has contacted the parties involved seeking comment.(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.)

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Commodities

Viva Energy's Geelong Refinery Catches Fire

A fire broke out on Wednesday at Australia-based Viva Energy's Geelong refinery in Victoria, causing explosions and flames, according to the local fire and rescue service.Fire Rescue Victoria said in a statement that it responded to an incident at the MOGAS unit at the Viva Oil Refinery in Corio at 11.15 pm local time on Wednesday, following multiple calls reporting explosions and flames."The Fire is not yet under control although is currently contained to the plant / area of origin and involves liquid fuels and gases," Fire Rescue Victoria said in a statement.The Geelong refinery processes 120,000 barrels per day and is one of only two refineries still operational in the country, according to the firm's website.The plant accounts for about 10% of Australia's total fuel needs and supplies over 50% of Victoria's fuel, according to Viva's website.Viva Energy did not immediately respond to' request for comment.Viva operates 1,300 Shell (SHEL) gas stations across the country and runs a fuel and oil distribution network that supplies Australia, the Financial Review reported. It is the only Australian manufacturer of aviation fuel.

$SHEL
Sectors

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks fell late Tuesday afternoon with the NYSE Energy Sector Index declining 2.4% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.The Philadelphia Oil Service Sector Index shed 2.8%, and the Dow Jones US Utilities Index gained 0.4%.In sector news, oil prices fell amid optimism that the US and Iran may revive peace talks. The two countries could resume talks later this week, possibly in Pakistan, news outlets reported, citing US President Donald Trump. Trump continues to be open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter.Separately, the International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in Q2 since the COVID-19 pandemic.West Texas Intermediate crude oil tumbled 7.5% to $91.65 a barrel, and global benchmark Brent dropped 4.5% to $94.92 a barrel. Henry Hub natural gas futures decreased 0.9% to $2.60 per 1 million BTU.In corporate news, BP (BP) said its Q1 upstream production is expected to be "broadly flat" from the previous quarter, while cautioning that energy market volatility may pressure results and widen price fluctuations. BP shares shed 0.7%.Exxon Mobil (XOM) and Dow (DOW) are among companies raising prices for plastics as the US-Israel war with Iran drives fuel and feedstock costs higher, Bloomberg reported. Exxon shares fell 2.2%.Shell (SHEL) is in late-stage talks to sell its South African retail fuel network to Abu Dhabi National Oil, Bloomberg reported. The prospective $1 billion deal includes 600 fueling locations and would secure a 10% regional market share for the buyer, the report said. Shell shares fell 1.4%.Bloom Energy (BE) shares jumped 24%, a day after the company said it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's AI infrastructure buildout.

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Oil & Energy

Market Chatter: Shell in Talks to Sell South Africa Stations to Adnoc for $1 Billion

Abu Dhabi National Oil Co. is in advanced talks to acquire Shell's (Shel) South Africa fuel stations in a deal valued at about $1 billion, Bloomberg said Tuesday, citing people familiar with the matter.Shell is negotiating the sale of its retail fuel network in South Africa to Adnoc, with discussions progressing toward a potential agreement as soon as this quarter, the report said.Adnoc has emerged as the leading bidder after earlier negotiations between Shell and Gunvor Group collapsed, the report added, citing sources.The acquisition would include roughly 600 service stations, giving Adnoc an estimated 10% share in South Africa's fuel retail market, according to the report.The sale process, which began in 2024, has continued despite Middle East tensions, highlighting Adnoc's broader strategy to expand its footprint across Africa, the report said.Adnoc has also been growing its presence in the region through other investments, including a $500 million agreement with BP to develop a gas project in Egypt, the report added.South Africa's fuel retail sector has seen consolidation in recent years, with Glencore acquiring Chevron's Caltex network and Vivo Energy purchasing Engen, the country's largest station operator, the report noted.Shell is divesting non-core assets globally, with several firms, including Puma Energy, Sasol, and PetroSA, previously expressing interest in the South African business, according to the report.has reached out to Shell and Abu Dhabi National Oil Co. for any comments.(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: $91.28, Change: $-1.32, Percent Change: -1.43%

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