Baker Hughes Co

Oil prices experienced extreme volatility Thursday following Iranian strikes on Gulf energy infrastructure, with Brent crude briefly exceeding $119 a barrel. The attacks have damaged Qatar's LNG export capacity and widened the key Brent-WTI spread to its largest margin since 2015.

Shell has finalized oil and gas agreements with Venezuela to develop the offshore Dragon field, with initial gas exports to Trinidad targeted for the third quarter of 2027. The deal follows new U.S. licenses easing sanctions on Venezuela's energy sector.

Oil prices fluctuated Wednesday, with Brent crude near $81, as market participants weighed supply disruptions in the Strait of Hormuz against potential U.S.-Iran diplomatic talks. Major banks have revised price forecasts upward.

SLB shares closed flat at $51.34 as oilfield services stocks lagged a crude rally driven by Middle East supply fears. Market focus shifts to potential changes in producer spending and SLB's upcoming quarterly results.

SLB Ltd.'s stock showed minimal movement, closing at $51.34, even as oil prices jumped due to Middle East supply disruptions. The market is focused on whether higher crude will translate into increased capital expenditure by energy producers.

SLB shares dropped 1.8% to $50.64 as oil prices declined, overshadowing new offshore drilling contracts for a deepwater gas project in Indonesia targeting first production by 2028.