Chevron shares rise as US-Iran nuclear talks fail, boosting oil prices amid supply concerns.

Chevron shares gained in premarket trading following the collapse of US-Iran nuclear negotiations in Islamabad, which raised fears of disruptions to global oil supply. West Texas Intermediate crude surged over 7% to above $104 a barrel, reflecting tighter market conditions. Chevron is expected to report 'noisy' Q1 earnings on May 1, 2026, with the company losing about 6% of global production in the quarter. Despite short-term volatility, Chevron's stock shows strong long-term momentum, trading near its 52-week high amid bullish investor sentiment.