Articles by Rebecca Torres
Chevron's Leviathan Gas Field Shutdown Sparks Energy Market Jitters
Israel has temporarily shut down Chevron-operated natural gas fields, including the major Leviathan site, following military action against Iran. The move heightens supply concerns as shipping through the Strait of Hormuz also stalls.
Gold Nears Record High on Geopolitical Tensions, Oil Surge
Spot gold rallied to $5,277 per ounce, approaching January's record, as Middle East tensions and rising oil prices fueled safe-haven demand. Brent crude jumped 10% to around $80 in weekend trading.
Iran Strikes Spark Oil Price Surge, Threaten Higher U.S. Gasoline Costs
Weekend strikes on Iran have rattled oil markets, causing Brent crude to jump 10% and prompting major carriers to halt transits through the Strait of Hormuz, setting the stage for higher U.S. gasoline prices this week.
Oil Markets Face Turbulent Open as Hormuz Tensions Disrupt Supply
OPEC+ has agreed to increase production by 206,000 barrels per day, but the decision collides with major shipping disruptions in the Strait of Hormuz following Iranian warnings. Markets reopen Monday with traders bracing for significant volatility.
Newmont Gains as Gold Nears $5,230, Bernstein Boosts Target to $157
Newmont Corporation shares advanced nearly 2% to $130.00 on Friday, contrasting with broader market declines, as spot gold prices strengthened to approximately $5,230 per ounce. Analyst firm Bernstein upgraded the miner to Outperform and raised its price target significantly.
Chevron Faces Supply Disruptions as Middle East Tensions Escalate
Chevron shares gained 1.4% Friday but face uncertainty after Israel ordered a temporary shutdown of the company-operated Leviathan gas field. Multiple tanker operators have suspended shipments through the Strait of Hormuz following regional strikes.
Gold, Oil Volatility Looms After Middle East Military Action
Gold prices surged late Friday following military strikes on Iran, setting up a choppy Monday open as traders brace for safe-haven demand. Oil markets are also on edge with shipments through the Strait of Hormuz suspended.
Silver Surges on Geopolitical Tensions, Eyes on U.S. Jobs Data
Silver prices rallied sharply Friday, climbing 4.8% to $92.60 per ounce amid heightened geopolitical risk following military strikes in the Middle East. Market focus now shifts to upcoming U.S. employment data and global PMI surveys.
ULSD Futures Edge Higher Amid Tight Distillate Inventories, Iran Talks
Heating oil futures gained slightly as market balances tight distillate supplies against potential progress in Iran negotiations. Attention turns to the upcoming OPEC+ meeting and inventory data.
Oil Prices Surge on U.S.-Iran Talks Stalemate, Ignoring Inventory Build
Oil prices climbed sharply Thursday as stalled U.S.-Iran nuclear negotiations fueled supply concerns, with Brent crude rising to $72.02 and WTI gaining to $66.29, despite a significant U.S. inventory build.