WS #13115
Iran claims strikes on US targets in Kuwait and tankers in Strait of Hormuz, plus drone strike on LNG vessels at Egypt's Damietta port, but oil prices fall as shipping flows recover, indicating market de-escalation of war premium. ExxonMobil Q2 Adj EPS $3.52 misses $3.60 est. on refining disruptions (450k BOEPD offline in Qatar, 150k in UAE), but record Permian production >1.8M BOEPD; Chevron beats with record US output and bullish fuel margins.
US-Iran conflict escalation and oil market response
Iran claims strikes on US targets in Kuwait and tankers in Strait of Hormuz, plus drone strike on LNG vessels at Egypt's Damietta port, but oil prices fall as shipping flows recover, indicating market de-escalation of war premium.
ExxonMobil Q2 Adj EPS $3.52 misses $3.60 est. on refining disruptions (450k BOEPD offline in Qatar, 150k in UAE), but record Permian production >1.8M BOEPD; Chevron beats with record US output and bullish fuel margins.