Mike Zaccardi downgraded the iShares Global Energy ETF (IXC) to Hold due to disappointing price performance despite favorable geopolitical tensions in the Middle East. The ETF remains attractively valued at a 10.3x price-to-earnings ratio and offers a 3.1% yield, but concentration risk is high with over 25% in ExxonMobil and Chevron. Technical indicators are mixed, suggesting a potential better entry point near $46. This cautious stance reflects uncertainty amid ongoing geopolitical risks affecting the energy sector.
ExxonMobil reported robust Q2 2026 results with $114.5 billion in revenue and $14.5 billion net profit, reflecting strong cash flow and operational resilience. Despite these solid financials, the stock price remained flat as investors remain cautious...
Phillips 66 announced it is now the world's third-largest buyer of Venezuelan crude oil, expanding its fleet and benefiting from Jones Act waivers issued by the Trump administration. This move is part of a strategy to secure discounted heavy crude gr...
ExxonMobil reported nearly $14 billion in upstream profits for Q2, a strong performance compared to $36 billion for the entire fiscal year 2022. This improvement is attributed to cost-cutting measures and growth in advantaged assets, which have enhan...
President Trump paused planned military strikes against Iran, causing crude oil prices to fall amid hopes for diplomatic talks. Trump criticized major U.S. oil companies ExxonMobil and Chevron for their record profits during the conflict, urging them...
Diesel prices in California have surged to $6.92 per gallon, significantly above the U.S. average of $5.36, driven by the ongoing Iran war and reduced refining capacity due to conflicts in Russia and Ukraine. California's unique factors, including st...
