United States Oil Fund

Brent Crude Up 2.1% at Near US$107.30 and NY Crude Up 1.9% at US$97.65

Update: WTI Oil Closes Higher as the Prospects for a Peace Deal in the Iran War Stall

West Texas Intermediate (WTI) crude oil closed highe on Thursday with the United States and Iran making little progress to end a war that has produced the largest-ever supply shock with shipments from the Persian Gulf region barred from the Strait of Hormuz.WTI crude oil for June delivery closed up US$2.89 to settle at US$95.85 per barrel, while June Brent oil was last seen up US$3.07 to US$104.98.The United States and Iran remain at an impasse, with Iran refusing to negotiate as long as the U.S. Navy continues to blockade its ports, while the U.S. refuses to lift the blockade. Iran is attacking ships in the Strait of Hormuz, the chokepoint for 20% of the world's daily oil demand supplied by Persian Gulf nations, while reports say U.S. forces are boarding Iranian ships in the Indian Ocean."The Iranian leadership had made the lifting of the US blockade a precondition for the resumption of negotiations, with a senior official calling it an act of military aggression. President Trump for his part has indicated that the ceasefire will remain in place for now, leaving the conflict in a no airstrike, minimal movement of ships, unsustainable equilibrium," Helima Croft, Head of Global Commodity Strategy and MENA Research wrote.WTI oil is up 43% since the Feb. 28 start to the war, but has retreated below the four-year high of US$112.95 touched on April 7 on hopes for a coming end to the conflict. However should traders expect the current impasse between the two sides to stretch out, prices could retest that four-year high."Trump has been touting that a deal with Iran is imminent through most of April. But a deal now looks increasingly elusive. Poly market bets in the US for when the SoH (Strait of Hormuz) will reopen have declined sharply over the past week. Bets on a reopening by 13 May has declined 27% since last Friday to now only 39%. Expectations for when the SoH will reopen is sliding rapidly into the future. That implies a higher oil price," said Bjarne Schieldrop, chief analyst commodities at SEB Research wrote.

May WTI Crude Oil Contract Closes Up US$2.89; Settles at US$95.85 per Barrel

Sector Update: Energy Stocks Edge Higher Premarket Thursday

Energy stocks were edging higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.4%.The United States Oil Fund (USO) was up 1.1% and The United States Natural Gas Fund (UNG) was 2.4% lower.Front-month US West Texas Intermediate crude oil was 0.3% higher at $93.20 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 0.2% to reach $102.06 per barrel, and natural gas futures were down 1.8% at $2.67 per 1 million British Thermal Units.Helix Energy Solutions (HLX) and Hornbeck Offshore Services have agreed to merge in an all-stock deal to form an integrated offshore services company. Shares of Helix Energy Solutions Group were up more than 5% pre-bell.Sasol (SSL) said it now expects fiscal 2026 fuel sales volume growth of 10% to 15% year-over-year, up from previous guidance of 5% to 10%. Sasol shares were down more than 2% premarket.Apollo Global Management (APO) said Thursday it has agreed to acquire a 40% stake in Pembina Gas Infrastructure from KKR (KKR). Pembina Pipeline (PBA) shares were nearly 2% higher pre-bell.

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Amid Stalled US-Iran Talks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.2% lower in Thursday's premarket activity as talks between the US and Iran stalled amid a continued blockage of the Strait of Hormuz.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.6%, and Nasdaq futures retreating 0.4% before the start of regular trading.US initial jobless claims totaled 214,000, compared with expectations of 210,000 and a prior reading of 208,000.The Chicago Federal Reserve Bank's monthly National Activity Index fell to a reading of minus 0.20 in March from 0.03 in February, compared with expectations for a smaller decrease to minus 0.13 in survey of analysts compiled by Bloomberg as of 7:35 am ET.S&P Global flash estimates of manufacturing and services conditions for April will be released at 9:45 am ET, followed by weekly natural gas stocks at 10:30 am ET.The Kansas City Fed's manufacturing reading for April will be released at 11 am ET.In premarket activity, bitcoin was down by 1.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated by 3.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.02%.Power Play:EnergyThe iShares US Energy ETF (IYE) gained 0.03%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.4%.Helix Energy Solutions (HLX) stock was up more than 8% before the opening bell after the company agreed to merge with Hornbeck Offshore Services in an all-stock deal to form an integrated offshore services company.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.04%, the Vanguard Health Care Index Fund (VHT) was down 0.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) declined by 1.2%.Sanofi (SNY) stock was up more than 3% premarket after the company reported higher Q1 adjusted earnings and sales.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% lower.KB Financial Group (KB) shares were up more than 2% pre-bell after the company reported higher Q1 earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.04%, while the Vanguard Industrials Index Fund (VIS) gained 0.7% and the iShares US Industrials ETF (IYJ) was down 0.4%.Union Pacific (UNP) stock was up more than 2% before the opening bell after the company reported Q1 earnings and operating revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.5%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Tesla (TSLA) shares were down more than 2% pre-bell after the company overnight reported Q1 results, with investors focused on its outsized capital expenditure outlook.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was down 0.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.04% higher, while the iShares Semiconductor ETF (SOXX) rose by 0.9%.Intel (INTC) shares were up more than 1% in Thursday's premarket activity after Tesla (TSLA) Chief Executive Elon Musk said he intends to use Intel's upcoming 14A process to make chips at its Terafab advanced artificial intelligence project in Austin, Texas.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.2% to $93.17 per barrel on the New York Mercantile Exchange. Natural gas gained by 0.1% to reach $2.73 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.1%, while the United States Natural Gas Fund (UNG) was 0.4% lower.Gold futures for May were down by 0.4% at $4,734.40 an ounce on the Comex. Silver futures retreated by 3.1% to $76.11 an ounce. SPDR Gold Shares (GLD) was 0.3% lower, and the iShares Silver Trust (SLV) fell by 1.8%.

Oil Edges Higher as the Prospect for a Peace Deal in the Iran War Stalls

Oil edged higher early on Thursday with the United States and Iran making little progress to end a war that has produced the largest-ever supply shock with shipments from the Persian Gulf region barred from the Strait of Hormuz.West Texas Intermediate (WTI) crude oil for June delivery was last seen up US$0.33 to US$93.29 per barrel, while June Brent oil was up US$0.50 to US$102.41.The United States and Iran remain at an impasse, with Iran refusing to negotiate as long as the U.S. Navy continues to blockade its ports, while the U.S. refuses to lift the blockade. Iran is attacking ships in the Strait of Hormuz, the chokepoint for 20% of the world's daily oil demand supplied by Persian Gulf nations, while reports say U.S. forces are boarding Iranian ships in the Indian Ocean."The Iranian leadership had made the lifting of the US blockade a precondition for the resumption of negotiations, with a senior official calling it an act of military aggression. President Trump for his part has indicated that the ceasefire will remain in place for now, leaving the conflict in a no airstrike, minimal movement of ships, unsustainable equilibrium," Helima Croft, Head of Global Commodity Strategy and MENA Research wrote.WTI oil is up 37% since the Feb. 28 start to the war, but has retreated below the four-year high of US$112.95 touched on April 7 on hopes for a coming end to the conflict. However should traders expect the current impasse between the two sides to stretch out, prices could retests that four-year high."Trump has been touting that a deal with Iran is imminent through most of April. But a deal now looks increasingly elusive. Poly market bets in the US for when the SoH (Strait of Hormuz) will reopen have declined sharply over the past week. Bets on a reopening by 13 May has declined 27% since last Friday to now only 39%. Expectations for when the SoH will reopen is sliding rapidly into the future. That implies a higher oil price," said Bjarne Schieldrop, chief analyst commodities at SEB Research wrote.

Brent Crude Up 1.1% at US$103 and NY Crude Up 1.15% at Near US$94

Brent Crude Up 1.75% at US$103.70

Crude Oil Prices Climb as Shipping Remains Blocked in Strait of Hormuz

Crude oil prices rose on Thursday amid a lack of progress in efforts to end the war in the Middle East, with shipping disruptions remaining in the Strait of Hormuz.Brent crude at last look gained 1.8% to US$103.69/barrel and West Texas Intermediate crude climbed 1.8% to $94.62/barrel. This comes after larger-than-expected gasoline and distillate stock draws in the U.S. and continued restrictions in the strait despite an extended ceasefire between the U.S. and Iran, Reuters said in a Thursday report."The oil market is repricing expectations with little sign of progress in finding a resolution in the Persian Gulf," Reuters quoted ING analysts as saying in a note.Iran on Wednesday seized two ships passing through the Strait of Hormuz and the U.S. is maintaining its blockade of Iran's trade by sea, suggesting continuing disruptions to shipments, analysts said, according to the report.

Update: WTI Oil Moves Higher as the U.S. Extends Its Ceasefire While Iran Continues to Refuses To Talk

West Texas Intermediate (WTO) crude oil rose Wednesday after the United States extended a ceasefire with Iran while continuing to blockade the country's ports, and as Iran attacked ships in the Persian Gulf while rejecting talks with the U.S. until the blockade is lifted.WTI crude oil for June delivery closed up US$3.29 to settle at US$92.96 per barrel, while June Brent oil was last seen up US$3.65 to US$102.13.Oil markets continue to react to developments in the U.S. war on Iran, which has blocked the Strait of Hormuz, trapping shipments from the Persian Gulf nations that supplied 20% of daily oil demand. While U.S. President Trump on Tuesday extended a ceasefire for attacks on the country, he refused to lift a blockade on Iran's ports. Iran has made lifting the blockade a key demand for resuming negotiations to end the war."Oil prices continue to whipsaw ... after Trump extended the ceasefire with Iran, even as peace talks remain on hold due to Tehran's refusal to negotiate while the US maintains its naval blockade ... the result is a continued and severe, and potentially growing, disruption to flows, with the Strait of Hormuz effectively closed," Ole Hansen, head of commodity strategy at Saxo Bank, wrote.Despite the U.S. ceasefire, Iran attacked three ships on Wednesday, the Wall Street Journal reported, while U.S. forces boarded a sanctioned tanker in the Indian Ocean.In its weekly report, the Energy Information Administration said U.S. commercial crude oil inventories rose by 1.9-million barrels last week, while inventories of gasoline and distillates fell.

June WTI Crude Oil Contract Closes Up US$3.29; Settles at US$92.96 per Barrel

Sector Update: Energy Stocks Edge Higher Premarket Wednesday

Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.3%.The United States Oil Fund (USO) was down 0.5% and The United States Natural Gas Fund (UNG) was 1.4% higher.Front-month US West Texas Intermediate crude oil was 2% higher at $91.43 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.8% to $100.22 per barrel, and natural gas futures were up 2% at $2.75 per 1 million British Thermal Units.Exxon Mobil (XOM) is considering a sale of its Esso-branded gas station network in Hong Kong, with the assets valued at about $500 million to $600 million, Bloomberg News reported, citing people familiar with the matter. Shares of Exxon Mobil were 0.1% higher pre-bell.Seadrill (SDRL) shares were up 0.2% after the company said it secured two offshore drilling contracts from LLOG Exploration, a subsidiary of Harbour Energy, adding about $260 million to its backlog.

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday Amid Extended US-Iran Ceasefire

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6%, and the actively traded Invesco QQQ Trust (QQQ) was 0.7% higher in Wednesday's premarket activity as US President Donald Trump extended the ceasefire with Iran.US stock futures were also higher, with S&P 500 Index futures up 0.6%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.7% before the start of regular trading.US mortgage applications rose 7.9% in the week ended April 17 as lower borrowing costs drove gains in both refinancing and purchase activity, Mortgage Bankers Association data showed Wednesday.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am ET.In premarket activity, bitcoin was up by 4.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.5% higher, Ether ETF (EETH) advanced 4.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.8%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1%, while the Vanguard Industrials Index Fund (VIS) was up 2% and the iShares US Industrials ETF (IYJ) was inactive.Target Hospitality (TH) stock was down more than 9% before the opening bell, a day after the company said its selling shareholders priced a secondary offering of 7 million shares at $14 apiece for about $98 million in gross proceeds.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1%, and the iShares US Technology ETF (IYW) was 1.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.8%, while the iShares Semiconductor ETF (SOXX) rose by 1.5%.TE Connectivity (TEL) shares were down more than 5% in Wednesday's premarket activity despite the company delivering strong fiscal Q2 results that beat estimates after CEO Terrence Curtin told Reuters that persistent Middle East conflict could force price hikes to offset rising material costs and supply chain disruptions.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was up 0.7%.Moderna (MRNA) stock was down more than 1% premarket, a day after the company said it administered the initial doses to participants in the US and the UK for a phase 3 clinical trial evaluating its experimental mRNA-1018 pandemic flu vaccine.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.Capital One Financial (COF) shares were down more than 1% pre-bell after the company overnight reported Q1 results that fell short of analyst expectations.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.4% higher. The iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.7%. The VanEck Retail ETF (RTH) was down 0.1%, while the State Street SPDR S&P Retail ETF (XRT) increased 0.6%.Alibaba Group (BABA) shares were up more than 1% pre-bell after The Information reported the company and Tencent are in talks to invest in DeepSeek, which is seeking funding at a valuation of over $20 billion.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.1%.NexGen Energy (NXE) stock was up more than 1% before the opening bell after the company said it completed its 2026 winter drill program at the Patterson Corridor East discovery, extending the vertical extent of the high-grade uranium zone by 33% to 550 meters.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% at $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%.

Oil Moves Higher as the U.S. Extends Its Ceasefire While Iran Continues to Refuses To Talk

Oil prices moved higher early Wednesday after the United States extended a ceasefire with Iran while continuing to blockade the country's ports, and as Iran attacked ships in the Persian Gulf while rejecting talks with the U.S. until the blockade is lifted.West Texas Intermediate crude oil for June delivery was last seen up $0.15 to US$89.82 per barrel, while June Brent oil was up $0.42 to US$98.90.Oil markets continue to react to developments in the U.S. war on Iran, which has blocked the Strait of Hormuz, trapping shipments from the Persian Gulf nations that supplied 20% of daily oil demand. While U.S. President Trump on Tuesday extended a ceasefire for attacks on the country, he refused to lift a blockade on Iran's ports. Iran has made lifting the blockade a key demand for resuming negotiations to end the war, and again allowing ships to transit the Strait."Oil prices continue to whipsaw, but with Brent holding below US$100 after Trump extended the ceasefire with Iran, even as peace talks remain on hold due to Tehran's refusal to negotiate while the US maintains its naval blockade...the result is a continued and severe, and potentially growing, disruption to flows, with the Strait of Hormuz effectively closed," Ole Hansen, head of commodity strategy at Saxo Bank, wrote.Despite the U.S. ceasefire, Iran attacked two ships on Wednesday, with the Wall Street Journal reporting gunboat attacks on a container ship and another unidentified vessel, while U.S. forces boarded a sanctioned tanker in the Indian Ocean.A report showed U.S. oil inventories fell last week. In its weekly survey, the American Petroleum Institute reported inventories fell by 4.4-milion barrels last week, under the consensus estimate for a 1.0-mllion barrel drop, according to Investing.com. The Energy Information Administration will release official inventory data later on Wednesday morning.

Brent Crude Up 1.1% at US$99.60

Europe Faces Jet Fuel Shortage Amid Middle East War, Commerzbank Says

Crude oil has been the focus for many amid the war in Iran and the closure of the Strait of Hormuz, but the shortage is particularly acute for refined oil products, and especially for jet fuel, Commerzbank said in a Tuesday note.Warnings have been growing about the shortage, mainly from the Airports Council International and the International Air Transport Association to the European economy, the bank noted.The International Energy Agency has examined the European jet fuel market and found an extremely tight picture. Jet fuel demand in European OECD countries stood at 1.6 million barrels per day in 2025, with 1.1 million barrels per day met by domestic production.About 75% of the resulting net import requirement was met by the Gulf region, which is currently strained due to the shipping disruptions in the Strait of Hormuz.The IEA also pointed to a significant drop in jet fuel stock levels. With the loss of supplies from the Middle East and without adequate replacement, stocks are at risk of falling further, particularly as demand is set to rise in the coming months, the bank said.The EU plans to present a draft proposal on Wednesday to address the jet fuel shortage and prevent impending restrictions on air travel. An EU-wide mapping of refining capacity for oil products is expected to be introduced next month, the bank noted, citing Reuters.Measures will also be introduced to ensure the full utilization and maintenance of refining capacity. However, as many refineries are already operating at full capacity, the measures are likely to have a limited impact, Commerzbank said.

Crude Oil Prices Climb Following Gunfire Attacks on Ships in Strait of Hormuz

Crude oil prices rose on Wednesday after container ships were reportedly hit by gunfire in the Strait of Hormuz, exacerbating concerns about the conflict's impact on global supply.Brent crude at last look gained 0.7% to US$99.17/barrel and West Texas Intermediate crude climbed 0.7% to $90.25/barrel. This comes after gunfire attacks on at least three container ships in the Strait of Hormuz, Reuters reported Wednesday, citing maritime security sources and the United Kingdom Maritime Trade Operations.The ceasefire between the U.S. and Iran was indefinitely extended hours before its expiry to allow talks to end the war to proceed, the report said.Meanwhile, in Europe, Ukrainian President Volodymyr Zelenskyy said the Druzhba oil pipeline, which carries supplies from Russia, is ready to resume operation, according to the report. However, industry sources said in the report that Russia is set to halt exports from Kazakhstan to Germany via the pipeline starting May 1.

Update: WTI Oil Rises Amid an Uncertain Outlook for U.S.-Iran Talks

West Texas Intermediate (WTI) closed higher on Tuesday amid an uncertain outlook for talks between Iran and the United States.WTI crude oil for May delivery closed up US$2.52 to settle at US$92.13 per barrel, while June Brent oil was last seen US$3.11 to US$98.59.The drop comes amid expectations that talks between the two countries will reach a deal to end hostilities as a two-week ceasefire agreement is set to expire tomorrow. However Iran has not publicly confirmed it will send negotiators to Pakistan to meet with the United States, though the Wall Street Journal reported Iran has told mediators it will send a team to the talks.Prices surged on Monday as Iran on Friday briefly opened and then again closed the Strait of Hormuz as the United States continued to block Iranian ports and disabled and boarded an Iranian cargo ship. The closure of the Strait is blocking oil exports from the Persian Gulf nations that supplied 20% of daily oil demand."Potential talks with the US in Islamabad ahead of the ceasefire's expiry on Wednesday follows a weekend marked by renewed tensions and conflicting signals, leaving the Strait of Hormuz effectively closed for now. The limited number of vessels managing to transit has done little to ease the ongoing tightening of the global energy market, which is increasingly short of prompt supplies - supporting elevated prices across diesel, jet fuel, fertilisers, and other key commodities," Saxo Bank noted.The closure of the Strait has forced up spot prices for oil as Asian nations fight for immediately available supply while raising concerns high oil prices, as well as the price of refined products, LNG and other commodities supplied by Persian Gulf countries, will hike inflation and force higher interest rates.

May WTI Crude Oil Contract Closes Up US$2.52; Settles at US$92.13 per Barrel

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.