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Crude Oil Prices See Volatility Amid Renewed Hostilities Between U.S. and Iran

Crude oil prices fell on Tuesday but remained elevated amid volatility driven by renewed hostilities in the war between the U.S. and Iran.Brent crude at last look lost 1.2% to US$113.12/barrel and West Texas Intermediate crude declined 1.9% to $104.40/barrel. This comes as the U.S. and Iran launched new attacks in the Gulf in efforts to gain control over the Strait of Hormuz, Reuters said in a Tuesday report.Analysts said the easing of prices in recent sessions are not due to improvement in fundamentals but represented a temporary relief, the report said. However, limited safe passage appears to be possible, helping drive away worst-case supply scenarios, analysts noted."Prices continue to trade in a highly volatile range, driven largely by ongoing tensions in the Strait of Hormuz," Reuters quoted Phillip Nova's senior market analyst Priyanka Sachdeva as saying.

$CLX1$LCOX1$USO

Sectors4d ago

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index increasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The Philadelphia Oil Service Sector Index was decreasing 0.2%, and the Dow Jones US Utilities Index was shedding 0.4%.In sector news, oil prices jumped as fighting in the Iran war flared up again. The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command. Tehran fired missiles and drones at the United Arab Emirates, the UAE's Defense Ministry said in a post on X earlier in the day.Front-month West Texas Intermediate crude oil climbed 3.2% to $105.22 a barrel, and the global benchmark Brent crude contract jumped 5.5% to $114.10 a barrel. Henry Hub natural gas futures rose 2.5% to $2.85 per 1 million BTU.In corporate news, Clean Energy Fuels (CLNE) shares gained 3.7% after the firm said Monday it is opening six new renewable natural gas stations along major US freight transportation routes to expand its station network.Chevron's (CVX) Q1 financial results set up a "meaningful" acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS said in a note. UBS kept its buy rating and increased its price target to $220 from $218. Chevron shares were rising 0.90%.Hess Midstream (HESM) shares climbed 3.8% after it posted higher Q1 earnings and revenue.ConocoPhillips (COP) will add drilling rigs to sustain operational efficiencies, given the duration of Permian inventory, which should ramp production starting in 2027, RBC Capital Markets said in a note. ConocoPhillips shares rose 1.4%.

$CLNE$COP$CVX$HESM

Sectors4d ago

Sector Update: Health Care Stocks Softer Late Afternoon

Health care stocks declined late Monday afternoon, with the NYSE Health Care Index decreasing 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.4%.The iShares Biotechnology ETF (IBB) rose 1.6%.In corporate news, Sanofi (SNY) said Monday it will invest 294 million Canadian dollars ($216 million) to expand its global AI Centre of Excellence in Toronto in a bid to accelerate the development and delivery of medicines. Its shares were down past 5%.Amgen (AMGN) said Monday it will invest an additional $300 million in its biologics manufacturing facility in Puerto Rico. Amgen shares were down 2.1%.Eli Lilly (LLY) shares added 0.7% after Barclays lifted the company's price target to $1,400 from $1,350, while keeping its overweight rating.Vanda Pharmaceuticals (VNDA) shares jumped past 7% after it said Monday its motion sickness drug Nereus is now commercially available in the US.

$AMGN$LLY$SNY$VNDA

Sectors4d ago

Sector Update: Financial Stocks Fall Monday

Financial stocks declined Monday with the NYSE Financial Index falling 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) losing 0.7%.The Philadelphia Housing Index dropped 3.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.6%.Bitcoin (BTC-USD) rose 1.7% to $79,950, and the yield for 10-year US Treasuries gained 6.8 basis points to 4.45%.In economic news, new orders for US factory goods rose 1.5% in March, above expectations for a 0.6% gain in a Bloomberg survey, following a revised 0.3% increase in February. Excluding a 0.8% rebound in transportation orders, new orders would have been up 1.6%, topping the projected 1.3% gain and matching February's pace.In corporate news, Boyd, which is backed by Goldman Sachs (GS) Asset Management, is offering a deeply discounted loan to refinance its capital structure following the sale of its liquid-cooling business to Eaton (ETN), Bloomberg reported. Goldman shares fell 2.2%.Carlyle (CG) arranged a first-of-its-kind financing that will seed its next flagship buyout fund while repaying investors in some of its older funds, Bloomberg reported. Carlyle shares rose 1.1%.American Express Global Business Travel, which is operated by Global Business Travel (GBTG), agreed to be acquired by Long Lake Management for $6.3 billion in cash. Global Business Travel shares surged 58%.Blackstone (BX) Digital Infrastructure Trust set its initial public offering at 87.5 million shares with an anticipated price of $20 a share. Blackstone shares fell 1.7%.

$BX$CG$GBTG$GS

Sectors4d ago

Sector Update: Consumer Stocks Fall Late Afternoon

Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.8%.In corporate news, Norwegian Cruise Line (NCLH) shares slumped more than 8%. The company lowered its full-year earnings outlook on Monday amid higher fuel costs and weak consumer demand due to the Middle East conflict, while its Q1 revenue fell short of market estimates.Amazon.com (AMZN) said it has launched Amazon Supply Chain Services, opening its logistics network to businesses. Amazon shares rose 1.2%, while FedEx (FDX) and United Parcel Service (UPS) each fell 9.8% and 10% respectively.GameStop (GME) has proposed to acquire eBay (EBAY) in a cash-and-stock deal worth about $55.5 billion. GameStop fell more than 9%, and eBay jumped 5%.Tyson Foods' (TSN) fiscal Q2 results surpassed Wall Street's expectations, lifted by price and volume gains in the chicken and prepared foods segments. Its shares climbed 7%.

$AMZN$FDX$UPS

Sectors4d ago

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.1%.The Philadelphia Semiconductor index decreased 0.2%.In corporate news, Apple (AAPL) is planning to introduce a new feature for its next iPhone software update that will allow users to develop and personalize their own digital tickets and gift cards in the Wallet app, Bloomberg reported. The pass-building feature for iOS 27 Wallet is expected to address the issue of many services still not offering passes compatible with the Wallet platform, the report said. Apple shares were down 1.3%.Microsoft-backed (MSFT) OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its AI products, Bloomberg reported. Microsoft shares shed 0.5%.Cisco Systems (CSCO) shares rose 0.8% after the company said Monday it plans to buy Astrix Security to broaden its automated agent and non-human identity defense capabilities.Blaize (BZAI) said it signed a strategic partnership agreement with Winmate to integrate its AI chips into systems for defense and critical infrastructure, targeting about $15 million in first-year business. Blaize shares surged 20%.

$AAPL$BZAI$CSCO$MSFT

Sectors4d ago

Sector Update: Health Care

$SNY

Sectors4d ago

Sector Update: Energy

$CLNE

Sectors4d ago

Sector Update: Consumer

Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.8%.In corporate news, Amazon.com (AMZN) has launched Amazon Supply Chain Services, opening its logistics network to businesses, the company said Monday. Amazon shares rose 1.2%, while FedEx (FDX) and United Parcel Service (UPS) each fell 9.8% and 10% respectively.

$AMZN$FDX$UPS

Sectors4d ago

Sector Update: Financial

Financial stocks were lower late Monday afternoon, with the NYSE Financial Index falling 1% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.7%.The Philadelphia Housing Index dropped 3.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.8%.Bitcoin (BTC-USD) was increasing 1.7% to $79,950, and the yield for 10-year US Treasuries rose 6.8 basis points to 4.45%.In corporate news, Boyd, which is backed by Goldman Sachs (GS) Asset Management, is offering a deeply discounted loan to refinance its capital structure following the sale of its liquid-cooling business to Eaton (ETN), Bloomberg reported. Goldman shares were down 2.2%.

$GS

Sectors4d ago

Sector Update: Tech

Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.4%.The Philadelphia Semiconductor index decreased 0.5%.In corporate news, Apple (AAPL) is planning to introduce a new feature for its next iPhone software update that will allow users to develop and personalize their own digital tickets and gift cards in the Wallet app, Bloomberg reported. The pass-building feature for iOS 27 Wallet is expected to address the issue of many services still not offering passes compatible with the Wallet platform, the report said. Apple shares were down 1.1%.

$AAPL

Sectors4d ago

Update: WTI Oil Moves Higher on Escalating Middle East Violence

West Texas Intermediate (WTI) crude oil closed higher Monday in volatile as traders eye escalating violence in the Persian Gulf.WTI oil for June delivery closed up US$4.48 to settle at US$106.42 per barrel, while July Brent oil was last seen up US$6.53 to US$114.70.Iran attacked the United Arab Emirates oil port of Fujairah in the Gulf of Oman, which has allowed the country to continue exporting oil while the Strait of Hormuz remains blocked. The Wall Street Journal reported Iran also fired missiles at U.S. warships and commercial vessels.Iran's Fars News Agency also reported Iranian forces struck a U.S. warship with two missiles to prevent it from moving into the Strait, which Iran blocked at the Feb. 28 start of the war, cutting off 20% of the world's oil demand supplied by Persian Gulf nations. However, The Guardian reported U.S. Central Command dismissed the report, while continuing the blockade of Iranian ports.U.S. President Trump in a weekend social media post said the U.S. would begin escorting ships trapped in the Gulf through the Strait, but offered no details on the scheme. The Wall Street Journal reported Trump "intends to use countries, insurance companies and shipping organizations to move traffic through the strait. It doesn't currently involve U.S. Navy warships escorting vessels through the waterway", citing two U.S. officials. The uncertain details of the plan has done little to lower prices, which have climbed by about half since the conflict began."The market remains fragile because the plan's implementation is uncertain, and Kuwait's oil exports reportedly falling to zero underlines how severe the regional supply disruption has become," Saxo Bank wrote.

$CLM6$LCON6$USO

Sectors4d ago

June WTI Crude Oil Contract Closes Up US$4.48; Settles at US$106.42 per Barrel

$CLM6$LCON6$USO

Sectors5d ago

Sector Update: Energy Stocks Higher Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index increasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index was shedding 0.5%.In sector news, oil prices rose as investors weighed military action in the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows. Military tensions were fanning up in Hormuz on Monday, as several ships were struck amid Iranian threats and the US sent in destroyers and fought off further attacks, The Wall Street Journal reported. The skirmishes followed President Donald Trump's initiative to get ships bottled up in the Persian Gulf out through the crucial waterway, the Journal said.Front-month West Texas Intermediate crude oil was rising 3.2% to $105.19 a barrel, and the global benchmark Brent crude contract was advancing 5.1% to $113.69 a barrel. Henry Hub natural gas futures rose 2.9% to $2.86 per 1 million BTU.In corporate news, Chevron's (CVX) Q1 financial results set up a "meaningful" acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS analysts said in a note. UBS kept a buy rating on the stock and increased its price target to $220 from $218. Chevron shares were rising 0.9%.Hess Midstream (HESM) shares added 3.7% after it posted higher Q1 earnings and revenue.ConocoPhillips (COP) will add drilling rigs to sustain operational efficiencies, given the duration of Permian inventory, which should ramp production starting in 2027, RBC Capital Markets said in a note. ConocoPhillips shares rose 1.1%.

$COP$CVX$HESM

Sectors5d ago

Sector Update: Financial Stocks Decline in Afternoon Trading

Financial stocks were lower Monday afternoon, with the NYSE Financial Index falling 1% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.8%.The Philadelphia Housing Index dropped 3.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.7%.Bitcoin (BTC-USD) was increasing 1.9% to $80,023, and the yield for 10-year US Treasuries was rising 7.6 basis points to 4.45%.In economic news, new orders for US factory goods rose by 1.5% in March, above expectations for a 0.6% gain in a Bloomberg-compiled survey, following a revised 0.3% increase in February. Excluding a 0.8% rebound in transportation orders, new orders would have been up 1.6%, above a 1.3% gain expected and the same as in February.In corporate news, American Express Global Business Travel, which is operated by Global Business Travel (GBTG), on Monday agreed to be acquired by Long Lake Management in an all-cash deal worth about $6.3 billion. Global Business Travel shares surged 57%.Blackstone (BX) Digital Infrastructure Trust set its initial public offering at 87.5 million shares with an anticipated price of $20 per share, according to a filing with the Securities and Exchange Commission. Blackstone shares were down 0.9%.JPMorgan Chase (JPM), Morgan Stanley (MS), SMBC and MUFG (MUFG) are exploring ways to distribute data center-related debt to broader investors as AI infrastructure financing strains bank balance sheets, the Financial Times reported. The banks are looking at private loan sales and significant risk transfers, or SRTs, to reduce exposure to large individual borrowers and free up lending capacity, the report said. JPMorgan Chase shares fell 1.4%, Morgan Stanley was shedding 0.9%, and MUFG decreased 0.3%.

$BX$GBTG$JPM$MS$MUFG

Sectors5d ago

Update: Gold Falls as the Dollar and Yields Climb

(Updates prices.)Gold traded lower midafternoon Monday as the dollar and yields rose, forcing the precious metal below the tight range it has stuck within for the past month.Gold for June delivery was last seen down US$112.20 to US$4,533.20 per ounce, the lowest since March 27.The war on Iran has prompted some safe-haven demand for the metal, even as the higher oil prices that followed the start of the war on Iran is hiking inflation. This is raising concerns higher interest rates are on the way, which is bearish for the metal since it pays no interest."Gold remains supported by safe-haven demand as investors continue to watch the Middle East conflict, oil prices, and the yen. Any durable easing in the Strait of Hormuz would likely cool demand for defensive assets, but until shipping flows normalise, gold should remain sensitive to geopolitical headlines and shifts in real yields," Saxo Bank noted.The dollar rose, with the ICE dollar index last seen up 0.2.9 points to 98.45. Treasury yields were sharply higher, with the U.S. two-year note last seen paying 3.975%, up 8.3 basis points, while the yield on the 10-year note as up 7.0 points to 4.449%

$GCM6$GLD

Sectors5d ago

Sector Update: Health Care Stocks Softer in Afternoon Trading

Health care stocks declined Monday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.3%.The iShares Biotechnology ETF (IBB) rose 1.3%.In corporate news, Amgen (AMGN) said Monday it will invest an additional $300 million in its biologics manufacturing facility in Puerto Rico. Amgen shares were down 2.1%.Vanda Pharmaceuticals (VNDA) shares jumped past 5% after it said Monday its motion sickness drug Nereus is now commercially available in the US.Eli Lilly (LLY) shares added 0.2% after Barclays lifted the company's price target to $1,400 from $1,350, while keeping its overweight rating.Moderna (MRNA) is showing continued advancement across its pipeline, with progress in cancer vaccines and infectious disease programs supporting a more balanced risk-reward profile, RBC Capital Markets said in a note. RBC maintained its sector perform rating on the stock and raised its price target to $38 from $35. Moderna shares rose 4.6%.

$AMGN$LLY$MRNA$VNDA

Sectors5d ago

Sector Update: Tech Stocks Edge Higher Monday Afternoon

Tech stocks edged up Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) marginally up.The Philadelphia Semiconductor index decreased 0.5%.In sector news, Cerebras Systems plans to kick off the roadshow for its proposed initial public offering as the AI chipmaker targets raising up to a little over $4 billion.In corporate news, Microsoft-backed (MSFT) OpenAI has secured more than $4 billion from investors for a new joint venture valued at $10 billion to expand adoption of its AI products, Bloomberg reported. Microsoft shares rose 0.1%.Cisco Systems (CSCO) shares rose 1% after the company said Monday it plans to buy Astrix Security to broaden its automated agent and non-human identity defense capabilities.Blaize (BZAI) said it signed a strategic partnership agreement with Winmate to integrate its AI chips into systems for defense and critical infrastructure, targeting about $15 million in first-year business. Blaize shares surged past 27%.

$BZAI$CSCO$MSFT

Sectors5d ago

Sector Update: Consumer Stocks Decline Monday Afternoon

Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.6%.In corporate news, GameStop (GME) has proposed to acquire eBay (EBAY) in a cash-and-stock deal worth about $55.5 billion. GameStop fell more than 7%, and eBay jumped 5.3%.Norwegian Cruise Line (NCLH) shares slumped more than 9%. The company lowered its full-year earnings outlook on Monday amid higher fuel costs and weak consumer demand due to the Middle East conflict, while its Q1 revenue fell short of market estimates.Tyson Foods' (TSN) fiscal Q2 results surpassed Wall Street's expectations, lifted by price and volume gains in the chicken and prepared foods segments. Its shares rose 2.5%.

$EBAY$GME$NCLH$TSN

Sectors5d ago

Sector Update: Energy

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index increasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.6%.The Philadelphia Oil Service Sector Index was decreasing 0.7%, and the Dow Jones US Utilities Index was shedding 0.7%.In sector news, oil prices rose as as investors weighed military action in the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows. Military tensions were fanning up in Hormuz on Monday, as several ships were struck amid Iranian threats and the US sent in destroyers and fought off further attacks, The Wall Street Journal reported. The skirmishes followed President Donald Trump's initiative to get ships bottled up in the Persian Gulf out through the crucial waterway, the Journal said.Front-month West Texas Intermediate crude oil was rising 3.5% to $105.53 a barrel, and the global benchmark Brent crude contract was advancing 5.7% to $114.28 a barrel. Henry Hub natural gas futures rose 3.7% to $2.88 per 1 million BTU.In corporate news, Chevron's (CVX) Q1 financial results set up a "meaningful" acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS analysts said in a note. UBS kept a buy rating on the stock and increased its price target to $220 from $218. Chevron shares were rising 1.5%.

$CVX

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