Chevron Corp.

Oil prices rose sharply, with Brent at around $105.7 and WTI at about $92.9, driven by reports of possible U.S. military options against Iran and tensions in the Strait of Hormuz. Additional supply pressures include damaged Russian refineries and production cuts in the Gulf of Mexico of around 510,000 barrels per day due to a tropical storm. Chevron led the winners after UBS confirmed its buy recommendation, raised the price target from $220 to $235 and increased its Q3 2026 earnings forecast to $4.93. » More on deraktionaer.de

Because of the approaching tropical storm Isaias, Chevron and Shell have halted parts of their production in the Gulf of Mexico and evacuated personnel from several offshore facilities. Chevron shut down four platforms while production at five others continues normally. Shell stopped production at five sites and pulled non‑essential staff. The U.S. agency for offshore resources reports a reduction in output of about 511,619 barrels per day, roughly a quarter of Gulf production. » More on finanzen.net

Chevron plans to increase exploration spending by more than 50% next year, with exploration outlays expected to exceed $1.5 billion and a planned slate of about 20 exploration wells plus five to six appraisal wells in 2027. The push—including new acreage in Brazil, Egypt, Namibia and Suriname and greater use of AI and improved seismic data—aims to address reserve replacement after proven reserves dipped below 11 BBOE. Management expects to sustain dividend growth given a strong cash-flow profile and capex guidance, but discoveries may take years to translate into cash flow and could be noncommercial or high-cost. » More on finance.yahoo.com