Oil prices surged sharply on Monday after Iran threatened to completely block the Strait of Hormuz, a critical passage for about 20% of the world's oil supply. West Texas Intermediate crude rose 7% to around $94 per barrel, while Brent crude climbed 6% to about $97 per barrel. The escalation follows renewed strikes between the US and Iran, reversing last week's price declines driven by hopes for a peace deal. An ExxonMobil executive warned that global oil inventories are nearing historically low levels, which could push prices as high as $160 per barrel if supply disruptions persist. The White House expects prices to fall once the conflict ends, but investors remain concerned about the risk of prolonged supply shortages tightening the market further.
Michael Saylor's company, Strategy (MSTR), saw its stock price drop over 30% shortly after selling 32 Bitcoins to fund equity commitments. Although the sale was small, it shook investor confidence due to the company's reputation for hoarding Bitcoin....
Energy mergers and acquisitions are gaining momentum in 2026 due to high oil prices, with West Texas Intermediate crude at $92.16 per barrel. Mid-cap energy companies Talos Energy, Matador Resources, and Chord Energy are prime targets for acquisition...
Pantheon Resources presented to Alaska lawmakers alongside major producers to support the AK LNG Project, emphasizing its Kodiak and Ahpun projects as potential low-cost, low-CO2 gas suppliers. The company highlighted its ability to offer competitive...
The ALPS Equal Sector Weight ETF (EQL) changed its benchmark on June 1, moving from the NYSE Equal Sector Weight Index to the VettaFi Modelist Equal Weight Sector 500 Index (VFES500). This shift means EQL will now hold individual stocks directly inst...
ExxonMobil's Senior Vice President Neil Chapman warned that crude oil prices could surge to $150-$160 per barrel soon due to critically low inventory levels, despite recent price drops linked to U.S.-Iran peace talks. The company highlighted that str...
