Crude oil benchmarks plunged over 7%, with Brent near $66 and WTI around $62, as President Trump's comments eased fears of a U.S.-Iran conflict and a sell-off in metals markets spilled over. Analysts suggest the drop reflects a rapid unwinding of risk premiums rather than a fundamental change in supply dynamics.
Crude futures retreated sharply on Monday after weekend comments from U.S. President Donald Trump suggested diplomatic engagement with Iran, easing fears of a military confrontation that had recently buoyed markets.
Imperial Oil Ltd. reported robust fourth-quarter results, generating nearly $1.4 billion in free cash flow and announcing its largest-ever nominal dividend increase. Despite weather disruptions at its Kearl oil sands operation, the company highlighted record annual production and a disciplined capital return strategy that saw $4.6 billion returned to shareholders in 2025.
As crude prices spike on Middle East tensions, fears of reignited inflation and subsequent Fed action cast a shadow over risk assets, with Bitcoin failing to capitalize on its perceived 'safe-haven' narrative.
Crude oil futures surrendered early gains to close lower Friday, as de-escalating rhetoric from Washington over Iran and a stronger dollar offset ongoing geopolitical tensions and supply constraints.
The U.S. rig count saw a marginal increase this week, yet remains significantly below last year's levels as crude production dips and completions activity sends conflicting signals.
Crude oil and gasoline prices advanced on Friday, supported by persistent geopolitical risks in the Middle East and ongoing supply constraints, though gains were tempered by a stronger dollar and diplomatic signals.
While rising crude prices have lifted Occidental Petroleum's stock recently, a mixed earnings performance and a predominantly 'Hold' rating from Wall Street signal lingering skepticism about its near-term trajectory.
Analysts at Susquehanna have raised their price target for ConocoPhillips (COP) to $115, citing a positive long-term outlook despite near-term headwinds from oversupply and soft demand. The independent energy giant also stands out for its robust dividend yield.
