$XOM

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S&P 500, Nasdaq Rally, Middle East Peace Optimism Drive US Equity Futures Higher Pre-Bell

US equity futures were trending higher pre-bell Wednesday as the S&P 500 and the Nasdaq reached new all-time highs amid continued optimism for an end to the Middle East conflict.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.8% higher.The S&P 500 added 0.6% and the Nasdaq rose 1.2% to fresh intraday and closing highs, driven by an upswing in the technology sector.President Donald Trump said in a post on Truth Social that talks with Iran were "proceeding nicely." However, Iran threatened to respond to ceasefire violations after the US military carried out what it called "self-defense strikes" on Iranian missile launch sites and vessels around the Strait of Hormuz. Negotiations to end the war continue.Traders noted the latest round of earnings, with PDD (PDD) posting lower Q1 non-GAAP earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.6% at $92.25 per barrel and US West Texas Intermediate crude 6% lower at $88.24 per barrel.The Richmond Fed manufacturing index for May is scheduled to be released at 10 am ET.In other world markets, Japan's Nikkei closed flat, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 1.3% lower. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Micron Technology (MU) stock was up 7.4% as the company's market capitalization reached $1 trillion for the first time. Fellow tech firms Marvell Technology (MRVL), Seagate Technology (STX), and Western Digital (WDC) all saw their shares rise as part of a broader tech rally. Marvell stock was up 6.1%, Seagate shares were higher by 5.4%, and Western Digital stock was up 5.5%.On the losing side, ExxonMobil (XOM) shares were down 2.1% after a Reuters report that Occidental Petroleum (OXY) was acquiring a 10% stake in the company's deepwater exploration block offshore Trinidad and Tobago. TotalEnergies (TTE) stock was 3.3% lower after a Bloomberg News report that the company is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country. PDD shares were down 8.8% after the company reported its Q1 financial results.

Dow JonesNasdaq CompositeS&P 500$MRVL$MU$OXY$PDD$STX$TTE$WDC$XOM

Equities19d ago

Update: Market Chatter: Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela

(Updates with ConocoPhillips' response to a request for comment in the third paragraph.)Exxon Mobil (XOM) and ConocoPhillips (COP) are seeking durable contract terms and a resolution to the billions of dollars they are owed as part of active negotiations with the Venezuelan government about returning to the country after exiting two decades ago, Bloomberg reported Tuesday, citing people familiar with the matter.The oil companies said Venezuela has more work to do, but they are encouraged by President Delcy Rodriguez's willingness to negotiate, the report said, citing the people."ConocoPhillips has significant experience developing and operating these types of assets in Venezuela," a company spokesperson toldvia email. "We are continuing to evaluate potential in-country oil and gas opportunities, including gathering data, assessing next steps, and maintaining dialogue with relevant stakeholders."Exxon 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.)

$COP$XOM

Commodities19d ago

Market Chatter: Exxon Mobil, ConocoPhillips Seek Safeguards For Return to Venezuela After Nearly Two Decades

US energy giants Exxon Mobil (XOM) and ConocoPhillips (COP) are mulling a return to Venezuela after nearly two decades, pushing for contractual safeguards and the recovery of billions owed since their exit, Bloomberg reported citing people familiar with the matter.Both companies have reportedly held discussions with the government of President Delcy Rodriguez, who has led the country since the US arrest of her predecessor Nicolas Maduro, to tap the South American nation's massive oil reserves.While they said much has yet to be done regarding production sharing agreements and other matters, they were encouraged by the willingness of Rodriguez and her administration to negotiate different aspects of the contracts.The companies are reportedly looking for ways to structure their investments to prevent a repeat of losses they suffered when their assets were previously nationalized.This includes the use of stability clauses, which prevent successive governments from unilaterally changing contracts, and requiring all disputes to be settled via international arbitration instead of local courts."Bringing back Exxon Mobil and ConocoPhillips is a top priority for the government, and they're putting a lot of resources and effort behind it," said Carlos Bellorin, an executive vice president at Welligence Energy Analytics, told Bloomberg.He said the deal needs to be attractive to persuade these companies to invest.Chevron (CVX), another major US oil and gas company, has remained present in Venezuela throughout the nationalizations by former President Hugo Chavez. That positions it well now to ramp up output, with crude hovering around $100 per barrel.Neither ExxonMobil nor ConocoPhillips immediately responded to' request for 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.)

$COP$CVX$XOM

Equities19d ago

Mizuho Securities Adjusts Price Target on Exxon Mobil to $175 From $159, Maintains Neutral Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $169.50, 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)

$XOM

Commodities19d ago

Market Chatter: Occidental to Acquire 10% Stake in Offshore Trinidad Exploration Block

Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block offshore Trinidad and Tobago, according to a Reuters report on Tuesday that cites two sources familiar with the matterThe move is expected to give the US shale producer exposure to one of the Caribbean's most closely watched oil prospects.The offshore block, known as UD(1), lies in waters between 2,000 and 3,000 meters deep and was awarded to Exxon in August 2025.Exxon is currently conducting seismic surveys in the block, with data acquisition expected to conclude by the end of July, John Ardill, the company's vice president for global exploration, said earlier this month at the Offshore Technology Conference in Houston.Interpretation of the seismic data could be completed by the end of 2026, Ardill said.The Trinidad acreage borders Guyana's prolific Stabroek Block, where Exxon and its partners have made more than 30 discoveries that transformed the South American nation into one of the world's fastest-growing oil producers.Geological similarities between the two areas have fueled industry expectations that Trinidad's deepwater acreage may hold significant untapped oil and gas reserves.Trinidad and Tobago has been seeking new upstream investment as production from its mature oil and gas fields declines, threatening feedstock supplies for the country's liquefied natural gas sector.Last week, Exxon Trinidad country manager Paul Riley, business development manager Gboyega Ayeni and Occidental Vice President for International Exploration Pedro Romero met with Prime Minister Kamla Persad-Bissessar and Energy Minister Roodal Moonilal, according to a statement from Trinidad and Tobago's energy ministry.Occidental Petroleum, Exxon Mobil and Trinidad and Tobago's energy ministry did not immediately respond to requests for comment from.Exxon is expected to decide whether to drill an exploration well after reviewing the seismic data, a move that could provide the first indication of the block's commercial viability, the report 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.)

$OXY$XOM

Sectors19d ago

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index falling 2.2% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.5%.The Philadelphia Oil Service Sector Index shed 0.2%, and the Dow Jones US Utilities Index rose 0.3%.West Texas Intermediate crude oil fell 2.7% to $93.96 a barrel, and global benchmark Brent rose 3.8% to $99.79 a barrel. Henry Hub natural gas futures was slightly lower at $2.91 per 1 million BTU.In corporate news, Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported. Occidental shares were down 1.9%, and Exxon fell 3.1%.BP's (BP) board unanimously removed Albert Manifold as chair and director, effective immediately. BP shares fell 3.9%.Oklo (OKLO) shares jumped 4.5% after it said Tuesday it has been selected by the US Department of Energy, along with four other nuclear companies, for advanced talks under the surplus plutonium utilization program.Baker Hughes (BKR) shares rose 1.1% after it said it has extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin. Petrobras shares were down 2.3%.

$BKR$BP$OKLO$OXY$PBR$XOM

Sectors19d ago

Sector Update: Energy

$OXY$XOM

Wire19d ago

Market Chatter: Occidental Acquiring 10% Stake in Exxon's Deepwater Block Offshore Trinidad

Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported Tuesday, citing two people familiar with the matter.Exxon was the sole owner of the offshore block, which lies in water depths of 2,000 to 3,000 meters, the report said.Occidental and Exxon 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: $58.17, Change: $-0.64, Percent Change: -1.09%

$OXY$XOM

Wire19d ago

Occidental to Acquire 10% Stake in Exxon Deepwater Block Offshore Trinidad, Reuters Reports

$OXY$XOM

Wire19d ago

Market Chatter: Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela

Exxon Mobil (XOM) and ConocoPhillips (COP) are seeking durable contract terms and a resolution to the billions of dollars they are owed as part of active negotiations with the Venezuelan government about returning to the country after exiting two decades ago, Bloomberg reported Tuesday, citing people familiar with the matter.The oil companies said Venezuela has more work to do, but they are encouraged by President Delcy Rodriguez's willingness to negotiate, the report said, citing the people.Exxon and ConocoPhillips 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: $150.65, Change: $-4.27, Percent Change: -2.76%

$COP$XOM

Wire19d ago

Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela, Bloomberg Reports

$COP$XOM

Asia Markets20d ago

Progress on Potential Middle East Peace Agreement Drives US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Tuesday as traders monitored the US-Iran situation for a potential peace agreement to end the Middle East war.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1.1% higher.US Secretary of State Marco Rubio said that negotiations could "take a few days." Both sides said they have made progress on a potential memorandum of understanding that would end the war and provide 60 days for negotiators to reach a final deal.The framework of the memorandum is focused on halting the war and the US naval blockade in exchange for Iran ensuring safe transit in the Strait of Hormuz, according to Iranian foreign ministry spokesperson Esmaeil Baghaei.Traders observed the latest round of earnings, with AutoZone (AZO) reporting an increase in fiscal Q3 net income and net sales.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 3% at $96.22 per barrel and US West Texas Intermediate crude 3.9% lower at $92.84 per barrel.The Chicago Federal Reserve Bank's monthly National Activity Index rebounded to a reading of 0.14 in April from negative 0.15 in March, compared with expectations for a smaller gain to negative 0.03 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The March S&P Case-Shiller home price index is scheduled for release at 9 am ET. The May consumer confidence index, due at 10 am ET, is projected to fall to 92.0 from 92.8.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.5% and Germany's DAX index was 0.4% lower in Europe's early afternoon session.In equities, Eli Lilly (LLY) shares were up 1.2% after the company said its experimental gene-editing therapy, VERVE-102, reduced LDL cholesterol and PCSK9 protein levels in a phase 1 study involving adults with heterozygous familial hypercholesterolemia or premature coronary artery disease. BHP Group (BHP) stock was 1.4% higher after a Guardian report that the company scrapped plans for an iron ore processing facility near its Jimblebar mine in Western Australia that was expected to improve ore quality and lower emissions.On the losing side, energy majors ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY) saw their shares decline after oil prices fell below $100 for the first time in weeks. ExxonMobil shares were down 1.1%, Chevron stock was 1.2% lower, and Occidental Petroleum shares also fell 1.2%.

Dow JonesNasdaq CompositeS&P 500$AZO$BHP$CVX$LLY$OXY$XOM

Equities20d ago

Barclays Adjusts Exxon Mobil Price Target to $182 From $163, Maintains Overweight Rating

$XOM

Oil & Energy24d ago

Market Chatter: Exxon Reportedly Eyes Return to Venezuela, NYT Reports

Energy major Exxon (XOM) is in talks about a possible return to Venezuela nearly 20 years after the nationalization of its assets, the New York Times reported on Thursday, citing sources familiar with the talks.The potential deal, which could be finalized and announced as early as this month, involves the energy major signing upstream contracts to extract crude across up to six separate fields spanning multiple regions.The development marks a major pivot for the largest American energy firm, which just four months ago publicly declared Venezuela as "uninvestable" due to long-standing regulatory and expropriation risks, the report noted.The operational rift dates back to 2007 when then-President Hugo Chavez nationalized multi-billion-dollar heavy oil projects in the Orinoco Belt.Unlike industry peers who negotiated minority joint ventures with state-run PDVSA, Exxon refused compromise, exited the country, and launched protracted international arbitration battles that ultimately awarded the company roughly $1 billion in damages, a debt Venezuela's government has yet to fully settle.None of the parties involved responded immediately to' request for comments.Persistent security volatility in the Middle East has instilled a sense of urgency among Western oil majors to aggressively diversify upstream portfolios away from the oil-rich region.(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.)

$XOM

Wire24d ago

Market Chatter: Exxon Mobil Holds Talks to Acquire Oil-Production Rights in Venezuela

Exxon Mobil (XOM) is in talks to acquire rights to produce oil in Venezuela, the New York Times reported Thursday, citing several people familiar with the matter.The deal may be finalized and made public as soon as this month with Exxon signing contracts to produce in as many as six fields across several regions, the report said.It remains unclear if the initial accord would include binding obligations or only represent the company's expression of interest, the report said.Exxon Mobil did not immediately respond 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: $155.25, Change: $-1.03, Percent Change: -0.66%

$XOM

Sectors24d ago

Sector Update: Energy Stocks Decline Thursday Afternoon

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1.6%.The Philadelphia Oil Service Sector Index was declining 1.8%, and the Dow Jones US Utilities Index was adding 0.8%.Front-month West Texas Intermediate crude oil was declining 0.2% to $98.03 a barrel, and the global benchmark Brent crude contract was decreasing 0.7% to $104.27 a barrel. Henry Hub natural gas futures rose 0.7% to $3.03 per 1 million BTU.In sector news, US natural gas stocks rose by 101 billion cubic feet in the week ended May 15, faster than the 96 billion gain expected in a survey compiled by Bloomberg and following an increase of 85 billion cubic feet in the previous week.In corporate news, ExxonMobil (XOM) has signed a memorandum of understanding with QatarEnergy and the Egyptian government to explore the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas export infrastructure, QatarEnergy said Thursday. Exxon shares were down 1.6%.ConocoPhillips (COP) Chief Executive Ryan Lance told Bloomberg that recent changes to Venezuela's oil law, intended to woo foreign oil companies, do not go far enough to attract foreign investment to the country. ConocoPhillips shares fell 1.8%.Devon Energy (DVN) said it acquired 16,300 net undeveloped acres in the Delaware Basin in New Mexico for about $2.6 billion through a Bureau of Land Management oil and gas lease sale. Devon shares were down 3.4%.

$COP$DVN$XOM

Sectors24d ago

Sector Update: Energy

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1%.The Philadelphia Oil Service Sector Index was dropping 1.8%, and the Dow Jones US Utilities Index was adding 0.8%.Front-month West Texas Intermediate crude oil was declining 0.8% to $107.77 a barrel, and the global benchmark Brent crude contract was decreasing 0.3% to $104.70 a barrel. Henry Hub natural gas futures rose 0.5% to $3.02 per 1 million BTU.In corporate news, ExxonMobil (XOM) has signed a memorandum of understanding with QatarEnergy and the Egyptian government to explore the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas export infrastructure, QatarEnergy said Thursday. Exxon shares were down 1%.

$XOM

Oil & Energy24d ago

Egypt Expands Regional Gas Hub Push in QatarEnergy, ExxonMobil Cyprus Deal

QatarEnergy signed a memorandum of understanding with Egypt and ExxonMobil (XOM) to advance the potential commercialization of gas discoveries in Cyprus through Egypt's gas and LNG export network, it said Thursday.The agreement allows the parties to assess future gas development opportunities and build flexible commercial structures linked to Egypt's existing export and domestic gas infrastructure, QatarEnergy said.The agreement supports closer cooperation on natural gas between Egypt and Cyprus, improves the use of existing infrastructure, and reinforces Egypt's role as a potential Eastern Mediterranean gas hub.QatarEnergy Chief Executive Saad Sherida Al-Kaabi said the agreement marks a key step toward unlocking long-term natural gas potential across the Eastern Mediterranean region."We look forward to working closely with the Government of Egypt and our strategic partner ExxonMobil to achieve the objectives of this MoU for the benefit of all parties," Al-Kaabi said.The companies aim to develop integrated and commercially sustainable energy solutions that can support rising regional gas demand and improve links between regional and international markets, according to QatarEnergy.QatarEnergy said the agreement could strengthen broader regional cooperation and help diversify gas supplies across multiple international markets through stronger infrastructure integration.Price: $157.07, Change: $+0.79, Percent Change: +0.51%

$XOM

Wire25d ago

ExxonMobil Signs MoU With QatarEnergy to Explore Gas Cooperation With Egypt, Cyprus

ExxonMobil (XOM) has signed a memorandum of understanding with QatarEnergy and the Egyptian government to explore the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas export infrastructure, QatarEnergy said Thursday.Under the memorandum, the three parties aim to study opportunities and commercial frameworks for deeper integration between Egypt and Cyprus in the natural gas sector, according to a statement.Price: $159.10, Change: $+2.80, Percent Change: +1.79%

$XOM

Equities25d ago

Weatherford Wins Deepwater Completions Contract From ExxonMobil Unit Offshore Nigeria

Weatherford International (WFRD) said Thursday it has secured a deepwater integrated completions contract from ExxonMobil (XOM) affiliate Esso Exploration & Production Nigeria for offshore operations in Nigeria.Under the contract, Weatherford said it will provide integrated upper and lower completions solutions for deepwater wells, with a focus on improving safety, well integrity, operational reliability and efficiency throughout the lifecycle of the wells.Weatherford said the completion equipment will be configured through its global supply chain and supported locally in Nigeria to enable in-country execution and service delivery.Financial terms of the contract were not disclosed.

$WFRD$XOM

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