Chevron Option Alert: Dec 19 $140 Puts at the Ask: 1500 vs 1844 OI; Earnings 8/1 Before Open [est] 

Chevron Option Alert: Dec 19 $140 Puts at the Ask: 1500 @ $7.29 vs 1844 OI; Earnings 8/1 Before Open [est] Ref=$145.26

Chevron (NYSE:CVX) Stock

CHEVRON CORP

Chevron

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas.

Chevron Corp

Convex Finance - United States Dollar

Piper Sandler analyst Ryan Todd maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Overweight and raises the price target from $162 to $164.

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Piper Sandler Maintains Overweight on Chevron, Raises Price Target to $164

Financial giants have made a conspicuous bullish move on Chevron. Our analysis of options history for Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) revealed 10 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $1,268,015, and 5 were calls, valued at $217,310.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $115.0 to $165.0 for Chevron over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Chevron's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Chevron's whale trades within a strike price range from $115.0 to $165.0 in the last 30 days. 
<h3>Chevron Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1751400116_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$7.3</td>
<td>$7.2</td>
<td>$7.29</td>
<td>$140.00</td>
<td>$1.0M</td>
<td>1.8K</td>
<td>1.5K</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$5.75</td>
<td>$5.65</td>
<td>$5.75</td>
<td>$145.00</td>
<td>$57.5K</td>
<td>4.3K</td>
<td>114</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/15/27</td>
<td>$29.15</td>
<td>$28.0</td>
<td>$29.15</td>
<td>$165.00</td>
<td>$55.4K</td>
<td>52</td>
<td>19</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$3.45</td>
<td>$3.35</td>
<td>$3.45</td>
<td>$165.00</td>
<td>$51.7K</td>
<td>3.8K</td>
<td>210</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$10.65</td>
<td>$10.35</td>
<td>$10.35</td>
<td>$130.00</td>
<td>$45.5K</td>
<td>1.0K</td>
<td>94</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas.
In light of the recent options history for Chevron, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Chevron</h3>
<ul>
<li>Currently trading with a volume of 6,031,437, the CVX's price is up by 1.98%, now at $146.03. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 31 days.</li>
</ul>
<h3>What The Experts Say On Chevron</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $165.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Chevron with a target price of $165. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Chevron options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

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Spotlight on Chevron: Analyzing the Surge in Options Activity

The <a href="https://www.benzinga.com/topic/dow-jones-industrial-average">Dow Jones Industrial Average</a> was up around 4% in the first half of 2025, with 21 of the 30 components positive year-to-date through the first six months.
The index, which contains a diverse basket of stocks across sectors, offers many dividend stocks, with some having high yields for investors.
What Happened: When looking <a href="https://www.benzinga.com/dividends">for dividend stocks</a>, the Dow Jones Industrial Average is one place with the index having a basket of what are considered blue-chip American companies.
The 30 index components have strong track records of revenue and earnings growth, and in many cases, a long history of paying dividends and raising the dividend amounts.
While investors can buy an ETF like the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), which tracks the entire index, another option is to buy the &#8220;Dogs of the Dow.&#8221;
The "Dogs of the Dow" is a popular strategy that often coincides with the beaten-down stocks of the index which also offer high dividend payouts.
Here are the current top-yielding dividend stocks in the Dow Jones Industrial Average after the first six months of 2025.
<ol class="wp-block-list">
<li>Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>): 6.3%</li>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): 4.8%</li>
<li>Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>): 4.1%</li>
<li>Amgen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>): 3.4%</li>
<li>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>): 3.4%</li>
<li>Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): 2.9%</li>
<li>UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>): 2.8%</li>
<li>Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>): 2.7%</li>
<li>Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>): 2.5%</li>
<li>McDonald's Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>): 2.4%</li>
</ol>
In the Dow Jones Industrial Average, 28 of the 30 stocks pay out dividends. The average dividend yield of the 30 companies is 2% with the 10 highest averaging a yield of 3.5%.
Twenty of the 30 stocks in the index pay out at least a 1% dividend yield based on current stock prices.
Read Also: <a href="https://www.benzinga.com/markets/large-cap/25/07/46200141/dow-jones-2025-first-half-scoreboard-top-10-winners-losers-where-do-nvidia-apple-stock-rank">Dow Jones 2025 First Half Scoreboard: Top 10 Winners, Losers — Where Do Nvidia, Apple Stock Rank?</a>
Why It's Important: Along with stock price gains, dividends can be a nice form of consistent growth for companies and investors.
Investors can choose to collect dividend yield and put the capital to work in other stocks, or use it as income for other investments or spending. Investors can also reinvest the dividends back into the companies from which they got dividends.
Over a long period of time, dividend stocks can offer strong returns for investors with yields sometimes outpacing the returns of the overall stock market or other asset classes such as bonds and treasuries.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/money/best-monthly-dividend-stocks">Best Monthly Dividend Stocks</a></li>
</ul>
Photo: Shutterstock

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SPDR Dow Jones Industrial Average ETF Trust

Dogs Of The Dow: How You Can Get Dividend Stocks With Yields Up To 6.3%

The first half of 2025 has come to a close and 21 of the 30 stocks that make up the <a href="https://www.benzinga.com/topic/dow-jones-industrial-average">Dow Jones Industrial Average Index</a> are positive year-to-date.
Despite the impressive number of stocks with a positive performance in the first six months, the index was up around 4% with several of the components posting large declines.
2025 Performance: Through the first six months of the year, two <a href="https://www.benzinga.com/topic/magnificent-seven">Magnificent Seven stocks </a>are among the 10 best in the Dow Jones Industrial Average and two are among the 10 worst in the index based on performance.
Here's a look at the 10 best Dow Jones Industrial Average stocks in the first half:
<ol class="wp-block-list">
<li>International Business Machines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>): +34.1%</li>
<li>Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>): +23.6%</li>
<li>JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>): +20.9%</li>
<li>Boeing Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>): +18.4%</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): +18.0%</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>): +17.9%</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): +17.6%</li>
<li>Cisco Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>): +17.2%</li>
<li>Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): +13.6%</li>
<li>Visa Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>): +12.3%</li>
</ol>
Here are the 10 worst performing Dow Jones Industrial Average stocks in the first half:
<ol class="wp-block-list">
<li>UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>): -38.3%</li>
<li>Merck &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>): -20.4%</li>
<li>Salesforce.com Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>): -18.4</li>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): -18.1%</li>
<li>Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>): -6.1%</li>
<li>Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>): -5.7%</li>
<li>Procter &amp; Gamble Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>): -5.0%</li>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): -1.1%</li>
<li>Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): Flat</li>
<li>McDonald's Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NASDAQ">MCD</a>): +0.8%</li>
</ol>
Overall the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), which tracks the index, was up around 4% in the first half of 2025. This was a lower gain than the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, which had a 5.7% gain in the first half.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45932660/exclusive-sp-500-new-all-time-highs-again-2025">EXCLUSIVE: S&amp;P 500 To Hit New All-Time Highs Again In 2025? Majority Say Yes, 27% Predict This Range</a>
Why It's Important: Nvidia was one of the new Dow Jones components <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/12/42726598/dow-jones-2024-scoreboard-top-5-winners-losers-and-how-amazon-nvidia-could-reshape-2025">added in 2024</a> and the stock is one of the top performers in the first half of 2025. The stock replaced Intel, which was a top decliner in recent years.
The index also got rid of Walgreens, which was another poor performer in recent years. Its replacement Amazon was flat for the first half of 2025.
The new index makeup is showing strong signs of positive returns.
With 21 of the components positive year-to-date and one flat, this could mark one of the best years by the number of gainers in recent history.
In 2024, 18 of the 30 stocks were up for the full year. In 2023, 19 of the stocks in the index were up.
Perhaps most surprising is that two of the Magnificent Seven stocks rank among the worst performers in the first half of 2025, despite being part of the four Mag 7 members included in the Dow Jones Industrial Average.
Apple was the fourth-worst performer in the index for the first half, falling 18.1%. That marks a sharp reversal from its standout status as the only Dow Jones stock to rank among the top gainers in both 2023 and 2024.
Amazon ranked ninth with a flat return, as only eight of the components were down. 
The Dow Jones Industrial Average remains one of the most closely watched stock market indexes, serving as a gauge of overall market health. With only 30 stocks and a weighting based on stock price, rather than market capitalization, the index is less frequently used by some analysts and market experts than the broader S&amp;P 500 Index.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46198021/nvidia-vs-microsoft-vs-apple-which-stock-reaches-4-trillion-first">Nvidia Vs. Microsoft Vs. Apple: Which Stock Reaches $4 Trillion First?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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Dow Jones 2025 First Half Scoreboard: Top 10 Winners, Losers — Where Do Nvidia, Apple Stock Rank?

Shigeru Ishiba, the Prime Minister of Japan, is contemplating a proposal from President&nbsp;Donald Trump&nbsp;to purchase American oil to address the trade imbalance between the two nations.
What Happened: Ishiba acknowledged the suggestion but emphasized the need for a more detailed assessment. He pointed out that while the U.S. is the largest oil producer, factors such as price and oil type need to be considered, in an interview with&nbsp;<a href="https://asia.nikkei.com/Editor-s-Picks/Interview/Ishiba-weighs-up-Trump-s-suggestion-that-Japan-buy-US-oil?ref=biztoc.com">Nikkei</a>&nbsp;on Monday.
The Japanese PM stated, &#8220;It is a possibility that requires further, more detailed consideration.&#8221;
&#8220;Oil is different from natural gas,&#8221; Ishiba said, adding, &#8220;You cannot just say, &#8216;Yes, we&#8217;re&nbsp;ready to buy a lot&nbsp;of oil from the U.S.'&#8221; This comes amid renewed concerns over Japan&#8217;s energy security following the recent Israel-Iran conflict.
Trump has been urging countries like Japan and South Korea to invest&nbsp;in natural gas fields in&nbsp;Alaska, a move Japan is considering to diversify its energy sources. &nbsp;The suggestion holds particular importance as Japan currently relies on the Middle East for&nbsp;90% of its oil supply and recent tensions in the Strait of Hormuz have sparked concerns about energy security.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/sports/25/06/46159984/mark-cuban-raises-employee-wages-after-learning-of-government-aid-dependence" target="_blank" rel="noreferrer noopener">Mark Cuban Raises Employee Wages After Learning Of Government Aid Dependence</a>
Why It Matters: Japan&#8217;s consideration of Trump&#8217;s proposal comes at a critical time. The country has been engaged in trade talks with the U.S., with the looming threat of a 25% automotive tariff. Japan&#8217;s chief trade negotiator,&nbsp;Ryosei Akazawa, has previously&nbsp;<a href="https://www.benzinga.com/markets/tech/25/06/46109160/japans-top-trade-negotiator-calls-trumps-25-auto-tariffs-unacceptable-amid-ongoing-talks">expressed</a>&nbsp;Japan&#8217;s refusal to accept these tariffs, further complicating the trade negotiations.
In an interview with Fox News on Sunday, Trump said the U.S. has a large trade deficit with Japan and suggested that Japan could help reduce it by buying more American oil and other goods. 
Meanwhile, Trump&#8217;s recent announcement of his intention to set new&nbsp;<a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46163141/trump-says-hell-skip-trade-deals-set-global-tariffs-with-a-letter-pay-a-25-tariff-or-20-or-40-or-50">tariff rates</a>&nbsp;unilaterally for various trading partners through letters adds another layer of uncertainty to the trade negotiations. This move could potentially impact Japan&#8217;s trade relations with the U.S. and other countries.
Japan&#8217;s decision on the U.S. oil proposal could have significant implications for the ongoing trade talks and the broader trade relationship between the two countries.
On a year-to-date basis, shares of Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) climbed 1.93%, while Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) fell 1.99%, as per <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>. 
<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46051740/nearly-40-years-ago-donald-trump-blamed-this-country-for-his-tariff-push-and-its-not-china-id-make-our-allies-pay-their-fair-share">Nearly 40 Years Ago, Donald Trump Blamed This Country For His Tariff Push — And It&#8217;s Not China: &#8216;I&#8217;d Make Our Allies Pay Their Fair Share&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Japan Weighs 'Possibility' Of US Oil Purchase After Trump's Proposal: 'Requires...More Detailed Consideration,' Says PM Ishiba

Watching Hess; Live On CNBC, Pentwater Capital Discusses Merger With Chevron On Segment Titled "Top 10 Hess Shareholder On Chevron; Shares See A Pop To The Upside

Wells Fargo analyst Roger Read maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Overweight and raises the price target from $164 to $165.

Wells Fargo Maintains Overweight on Chevron, Raises Price Target to $165

Renowned television host Jim Cramer is cheering a potential mega merger between energy giants Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) and BP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>), seeing it as a catalyst for a broader surge in deal-making activity.
What Happened: On Wednesday, Cramer posted on X, forecasting an imminent wave of mergers and acquisitions, especially in the energy sector, calling it an &#8220;M&amp;A wave,&#8221; kick-started by Shell and BP. 
Cramer&#8217;s optimism comes amid market chatter triggered by <a href="https://www.wsj.com/business/energy-oil/shell-in-early-talks-to-acquire-rival-bp-2233591a">a</a> Wall Street Journal report suggesting that Shell was actively considering acquiring BP, creating one of the largest energy corporations in the world, which he believes would be the &#8220;most bullish thing that can happen in this market.&#8221;
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46071005/top-2-energy-stocks-which-could-rescue-your-portfolio-this-quarter">Top 2 Energy Stocks Which Could Rescue Your Portfolio This Quarter</a>
The host of CNBC&#8217;s Mad Money further believes that there's minimal antitrust scrutiny or political pushback in the energy sector right now, especially relative to big tech, which could make large-scale mergers easier to execute.
Shell, however, has since explicitly denied any talks of a merger being underway, with a spokesperson telling Reuters on Wednesday that &#8220;no talks are taking place&#8221; and that this was all just &#8220;further market speculation.&#8221;
The spokesperson went on to say, &#8220;As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification.&#8221;
BP, meanwhile, has remained tight-lipped, with the company&#8217;s representatives repeatedly declining to comment on the speculation.
Neither BP nor Shell immediately responded to Benzinga&#8217;s requests for a comment on this matter. The story will be updated as soon as we receive a response.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here we go. The M&amp;A wave.. Shell might buy BP. This would e the start&#8230; It&#39;s all because there is no important governmental review. It&#39;s the most bullish thing that can happen in this market. Listen to our Investing Conference: Buy .. well why not listen!!!
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1937900530489049192?ref_src=twsrc%5Etfw">June 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Talks surrounding BP&#8217;s <a href="https://www.benzinga.com/25/05/45205962/bp-stock-jumps-on-report-of-possible-acquisition-by-shell">acquisition by Shell</a> have been ongoing for quite some time, with Bloomberg having reported on it over a month ago.
If the <a href="https://www.benzinga.com/trading-ideas/movers/25/06/46098937/shell-in-talks-to-acquire-bp-in-mega-merger-report">$80 billion deal</a> goes through, it is expected to create a European oil and gas behemoth that could rival American giants, the likes of Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).
Price Action: Shares of BP were up 1.64% on Wednesday, trading at $30.32, and up 0.59% after hours, while Shell was down 1.00% during the day, before inching up 0.15% after hours, following the company&#8217;s denial of any such merger.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="147" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25234631/Screenshot-2025-06-26-at-9.16.16-AM-1024x147.png" alt="" class="wp-image-962437" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25234631/Screenshot-2025-06-26-at-9.16.16-AM-1024x147.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25234631/Screenshot-2025-06-26-at-9.16.16-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25234631/Screenshot-2025-06-26-at-9.16.16-AM-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/25234631/Screenshot-2025-06-26-at-9.16.16-AM.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Shell has a fairly average score on Benzinga&#8217;s Edge Stock Rankings, but has a favorable price trend in the short, medium and long term. How does it compare with BP? Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> to find out, along with deeper insights. 
Photo courtesy: katz / Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46014138/shell-ceo-warns-of-huge-impact-on-global-trade-if-the-strait-of-hormuz-is-blocked-amid-israel-iran-conflict-we-need-to-set-actions-for-a-new-reality">Shell CEO Warns Of &#8216;Huge Impact On Global Trade&#8217; If The Strait Of Hormuz Is Blocked Amid Israel-Iran Conflict: &#8216;We Need To Set Actions For A New Reality&#8217;</a></li>
</ul>

Government

SHEL

Jim Cramer Predicts 'M&A Wave' Even As Shell Denies BP Merger Deal: TV Host Says This Is The 'Most Bullish Thing' That Can Happen In This Market

Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>) on Wednesday announced an expanded liquefied natural gas (LNG) <a href="https://www.benzinga.com/pressreleases/25/06/b46092433/energy-transfer-expands-lng-supply-agreement-with-chevron-by-1-0-million-tonnes-per-annum-from-lak" target="_blank" rel="noreferrer noopener">supply agreement</a> with Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), strengthening their long-term energy partnership.
The new 20-year deal adds 1 million tonnes per annum (mtpa) to Chevron&#8217;s existing commitment, bringing the total to 3 mtpa.
The LNG will be delivered from Energy Transfer&#8217;s planned Lake Charles export facility on a free-on-board basis, with pricing tied to a fixed liquefaction charge and a variable component indexed to Henry Hub gas prices. 
Also Read: <a href="https://www.benzinga.com/markets/commodities/25/06/46047673/chevron-joins-lithium-race-with-125000-acre-texas-arkansas-deal" target="_blank" rel="noreferrer noopener">Chevron Joins Lithium Race With 125,000-Acre Texas-Arkansas Deal</a>
The agreement is contingent on a final investment decision and other conditions being met.
Energy Transfer LNG President Tom Mason called the deal a &#8220;significant milestone&#8221; in their collaboration with Chevron. Freeman Shaheen, President of Chevron Global Gas, said the expanded supply reflects the company&#8217;s strategy to offer &#8220;affordable, reliable, and ever-cleaner energy.&#8221;
The Lake Charles project continues to build momentum, having already secured long-term commitments such as a 5 mtpa Heads of Agreement with MidOcean Energy and a 1 mtpa Sale and Purchase Agreement with Kyushu Electric Power Company.
The facility will leverage existing infrastructure at a former regasification site, including LNG tanks, deepwater berths, and access to major natural gas basins like the Permian and Marcellus.
Price Action: ET shares were trading lower by 0.11% to $17.65 on Wednesday&#8217;s last check.
Read Next:
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<li><a href="https://www.benzinga.com/news/politics/25/06/46094069/iran-breaks-silence-says-nuclear-facilities-badly-damaged-by-us-strikes" target="_blank" rel="noreferrer noopener">Iran Breaks Silence, Says Nuclear Facilities&#8217; Badly Damaged&#8217; By US Strikes</a></li>
</ul>
Photo via Shutterstock

Chevron Locks In More LNG From Energy Transfer's Lake Charles Project

Energy Transfer Signs Incremental Sale and Purchase Agreement With Chevron For 1M Tonnes Per Annum

WIIM

EQNR

FANG

Shares of energy stocks are trading lower as oil prices drop following a softer-than-expected Iranian attack on a US base in Qatar.

Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) climbed 1.95%, 1.53% and 1.31% during Monday pre-market trading session after oil prices have skyrocketed to their highest point since January, sparking concerns about potential supply disruptions.
What Happened: The U.S. and Israel&#8217;s joint military action against Iran&#8217;s nuclear sites has sent shockwaves through the energy markets. This development, announced by President Donald Trump, has led to a surge in oil prices. 
At the start of the week, oil prices experienced a significant increase, with both Brent and U.S. crude reaching five-month highs of $81.40 and $78.40, respectively. 
However, prices later fluctuated and briefly turned negative during the European morning session. While geopolitical tensions have added a risk premium to oil markets, the Middle East conflict has not yet caused any direct disruption to oil supply.
Goldman Sachs predicted that oil prices could surge to $110 per barrel, but moderate to $95 per barrel in the fourth quarter of 2025. 
SEE ALSO: <a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin &#8211; Benzinga</a>
Why It Matters: The U.S.&#8217;s aggressive actions against Iran, a major oil producer, have significantly raised tensions in the region. This conflict, initially sparked by Israel&#8217;s extensive airstrikes, has put the global energy trade in the spotlight. Energy analytics firm Kpler has <a href="https://www.benzinga.com/markets/commodities/25/06/46046982/oil-prices-could-surge-by-10-as-us-drops-bunker-buster-bombs-on-iran-but-may-not-last-says-analyst-freight-disruptions-will-be-the-story-to-watch">forecasted</a> a sharp 7-10% increase in oil prices due to rising risk premiums. However, they also warn that this spike may be temporary.
Meanwhile, U.S. Secretary of State&nbsp;Marco Rubio&nbsp;has urged China to intervene and prevent Iran from shutting down the Strait of Hormuz, a crucial trade route for global crude oil. Rubio&#8217;s warning comes amid escalating tensions in the Middle East. The closure of the Strait of Hormuz would have severe implications for the global oil trade, potentially leading to further price increases.
Last week, Shell CEO, Wael Sawan had warned that if Iran shuts the Starit of Hormuz, it would cause a &#8216;huge impact&#8217; on global trade, as finding an alternative would be difficult.
<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/news/topics/25/06/46042314/when-mark-cuban-hit-100000-he-told-his-dad-whod-never-earned-even-half-that-he-just-started-crying" target="_blank" rel="noreferrer noopener">When Mark Cuban Hit $100,000, He Told His Dad, Who&#8217;d Never Earned Even Half That. &#8216;He Just Started Crying&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Occidental Petroleum, Exxon Mobil, Chevron Surge In Monday Pre-Market: What's Going On?

Chevron U.S.A., a subsidiary of Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), announced its intention to enter the lithium market last week by acquiring lease rights to approximately 125,000 net acres spanning northeast Texas and southwest Arkansas.
The rights, acquired from TerraVolta Resources and East Texas Natural Resources, give the firm access to the Smackover Formation – a geologic unit rich in <a target="_blank" href="https://www.benzinga.com/topic/lithium" rel="noreferrer noopener">lithium-bearing brine</a>.
"This acquisition represents a strategic investment to support energy manufacturing and expand U.S.-based critical mineral supplies," <a target="_blank" href="https://www.chevron.com/newsroom/2025/q2/chevron-enters-domestic-lithium-sector-to-support-us-energy-security" rel="noreferrer noopener">said</a> Jeff Gustavson, president of Chevron New Energies.
Also Read: <a target="_blank" href="https://www.benzinga.com//node/45948096" rel="noreferrer noopener">Exxon Mobil, Chevron, Occidental Petroleum In Focus As Expert Says ‘US Economy Is Far Less Sensitive To An Oil Shock' Amid Israel-Iran Conflict</a>
"Establishing domestic and resilient lithium supply chains is essential not only to maintaining U.S. energy leadership but also to meeting the growing demand from customers. This opportunity builds on many of Chevron's strengths, including subsurface resource development and value chain integration," he added.
The Smackover Formation is famous for its high lithium content and established infrastructure. The brine, a byproduct of oil and gas production, makes diversification particularly appealing for oil majors looking to expand into other markets without straying too far from their core expertise. The repurposing of these brine reservoirs presents both a low-carbon opportunity and a cost-effective path into the critical minerals sector.
Chevron plans to employ <a target="_blank" href="https://lithium.org/wp-content/uploads/2024/06/Direct-Lithium-Extraction-DLE-An-introduction-ILiA-June-2024-v.1-English-web.pdf" rel="noreferrer noopener">direct lithium extraction</a> (DLE) technologies to process the brine. Unlike conventional methods, which rely on vast evaporation ponds that require months and consume large amounts of land and water, DLE utilizes advanced materials to extract lithium ions from brine selectively.
The technology promises a faster, more efficient extraction process with a smaller environmental footprint. While DLE is still an emerging technique, it's gaining traction among energy giants aiming to modernize domestic lithium production.
Through this effort, Chevron has joined another domestic oil major, ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), which is advancing its own <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/02/37182798/exxons-lithium-experiment-could-be-winner-for-oil-company-state-of-arkansas" rel="noreferrer noopener">DLE project in Arkansas</a> through the subsidiary Mobil Lithium.
Exxon acquired 485 square kilometers of Smackover acreage in 2023 and aims to supply enough lithium for one million electric vehicles per year by 2030. The company has already inked a preliminary supply agreement with battery manufacturer SK On.
Despite lithium prices plunging from a high of $80,000 per ton in 2022 to around $8,400 today, the interest from Chevron, ExxonMobil, and others signals a longer-term bet.
These oil majors are acquiring lease rights and investing in capital expenditures during the market downturn, positioning themselves to be key suppliers when the rebound arrives.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46017496/israel-iran-conflict-lifts-crude-above-77-what-it-means-for-oil-etfs" target="_blank" rel="noreferrer noopener">Israel-Iran Conflict Lifts Crude Above $77: What It Means For Oil ETFs</a></li>
</ul>
Photo by Juan Roballo via Shutterstock

Equities

Commodities

BATT

CARZ

DRIV

Fidelity Electric Vehicles and Future Transportation ETF

FDRV

LITP

Chevron Joins Lithium Race With 125,000-Acre Texas-Arkansas Deal

<a href="https://www.benzinga.com/topic/oil">Oil markets</a> are again in the crosshairs of geopolitics. West Texas Intermediate crude prices rose more than 3% on Thursday to reach above $77 a barrel, with the tensions between Israel and Iran erupting and the world anxiously waiting to see if America would enter the conflict. Merchants are preparing for an escalation, particularly after the previous President Donald Trump ambiguously responded to reporters by saying, &#8220;I may do it. I may not,&#8221; when asked if America would attack Iran.
The consequence: A significant geopolitical risk premium of around $10 per barrel according to Goldman Sachs, has established itself, spurring fresh interest in oil and energy-themed ETFs as tactical plays and defensive strategies alike.
Also Read: <a href="https://www.benzinga.com/markets/commodities/25/06/46016660/oil-prices-jump-european-markets-plummet-as-us-iran-tensions-rise-whats-driving-markets-thursday">Oil Prices Jump, European Markets Plummet As US-Iran Tensions Rise: What&#8217;s Driving Markets Thursday?</a>
<h2 class="wp-block-heading">ETF Market Moves: Flows, Premiums, And Positioning</h2>
As volatility for oil surges, investors are using <a href="https://www.benzinga.com/etfs">liquid and leveraged ETFs </a>to register their opinions, or hedge their exposure.
United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), the biggest oil ETF to track WTI futures, witnessed gains of more than 11% in the past five days as oil prices rose.
Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), a wide energy sector play supported by ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), increased by 2.7% in the past five days, while the options volume reflected a bias toward bullish call action.
SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) and iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>), which provide more targeted exposure to U.S. shale and drilling firms, also surged during the price spike, gaining 5% and 3%, respectively over the past five days.
For more adventurous speculators, leveraged funds such as the ProShares Ultra Bloomberg Crude Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>) are also getting renewed traction, particularly as WTI pushes for the $80 barrier, a psychological support level for breakout enthusiasts. The fund witnessed price gains of almost 17% in the past five days.
Also Read: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/45983526/trump-wants-an-end-not-a-ceasefire-for-the-israel-iran-war-what-that-means-for-etfs">Trump Wants &#8216;An End, Not a Ceasefire&#8217; For The Israel-Iran War: What That Means For ETFs</a>
<h2 class="wp-block-heading">Hormuz In The Crosshairs</h2>
The most frightening wild card in the mix might be the Strait of Hormuz, that tight shipping lane <a href="https://www.eia.gov/todayinenergy/detail.php?id=65504">seeing </a>close to 20% of total global flows of oil, according to U.S. Energy Information Administration.
At the Japan Energy Summit &amp; Exhibition in Tokyo, Shell chief executive Wael Sawan predicted a &#8220;huge impact&#8221; on world trade should the waterway be closed, as cited by Bloomberg. Meanwhile the American Petroleum Institute reiterated to Bloomberg that even an appearance of threat to tankers had the power to create market mayhem. US involvement could cause Iran to attack infrastructure or shipping routes in retaliation, according to RBC Capital&#8217;s Helima Croft, cited by Reuters.
If such disruption occurs, ETFs related to oil logistics, shipping, and midstream infrastructure may experience knock-on effects, either favorable, as risk premiums increase, or unfavorable, if operations are suspended.
<h2 class="wp-block-heading">Trump&#8217;s Wild Card Effect: Trader Paralysis Or Opportunity?</h2>
Uncertainty about the president&#8217;s next step has added further volatility to markets. Trump&#8217;s unorthodox style of foreign policy in his first term has put investors off from making bets either on rapid escalation or rapid de-escalation.
&#8220;Even if Middle East tensions were to cool off in the coming days, oil prices are probably not headed back to the low-$60 range they were trading at a month ago,&#8221; said Price Futures Group senior analyst Phil Flynn as cited by Reuters, adding that the market had been underpricing geopolitical shocks, and now that premium is coming back.
This repricing has given new life to energy ETFs, which had trailed the wider equity indices over the past few months. Some strategists like Goldman Sachs think Brent may rise above $90 if the conflict worsens, something that would make energy ETFs one of the brighter spots in a risk-off environment.
For risk-management traders, tactical ETF plays can potentially present opportunities, but for long-term allocators, perhaps there is a larger message here: geopolitical hedging through energy exposure.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/new-etfs/25/06/46016531/new-blox-etf-lets-you-earn-income-while-investing-in-bitcoin-and-ethereum">New BLOX ETF Lets You Earn Income While Investing In Bitcoin And Ethereum</a></li>
</ul>
Image: Shutterstock/Barks

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

Israel-Iran Conflict Lifts Crude Above $77: What It Means For Oil ETFs

Shares of energy stocks are trading higher as oil rises amid concerns of Israel-Iran escalation. President Trump denied working on a ceasefire and said everyone should evacuate Tehran.

TerraVolta Resources, LLC ("TerraVolta" or the "Company") and its investor, The Energy &amp; Minerals Group ("EMG"), announced that they have closed on a transaction to sell all equity interests in two subsidiaries that own certain leasehold acreage positions in east Texas and southwest Arkansas to Chevron U.S.A. Inc., a subsidiary of Chevron Corporation ("Chevron") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).
Chevron's acquisition comprises approximately 100,000 net acres, establishing a lithium resource position in the United States. The sale enables a major energy company to take a first step toward establishing a commercial-scale, domestic lithium business.&nbsp;

Chevron Acquires 100,000 Net Acres From TerraVolta To Establish U.S. Lithium Resource Position; No Financial Terms Disclosed

As global tensions in the Middle East highlight a volatility in the oil markets, an expert suggests the U.S. economy&#8217;s susceptibility to oil price shocks has significantly diminished compared to previous decades.
What Happened: According to Bob Elliott, the CIO of Unlimited Funds, the shift in the mechanical impact of rising oil prices is primarily due to the United States&#8217; transition into a net exporter of crude products.
Traditionally, oil price surges acted as a significant drag on household spending and often prompted central banks to adopt tighter monetary policies to combat inflation. However, Elliott&#8217;s detailed examination reveals a changed landscape.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The US economy is far less sensitive to an oil shock than in previous decades. While the ongoing Mideast conflict is a concern, it would take multiples of the the impact priced in so far to have meaningful economic impact. Thread.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1934558230123782446?ref_src=twsrc%5Etfw">June 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
While consumer gasoline prices might still see a moderate uptick following price increases, the overall impact on household consumption is far less profound. Spending on fuel has fallen to a mere 1.3% of total household consumption, making recent price movements &#8220;not noticeable&#8221; in the broader economic context, Eliott explains.
&#8220;The surge in US production to the point where the US is a net exporter highlights how an oil shock may not be nearly as detrimental as in past rounds. While it would create a drag on HH consumption and rising inflation, it will also support domestic production &amp; investment,&#8221; he said in an X thread.
Furthermore, the surge in domestic oil production means that higher prices now generate increased income for U.S. oil producers, offsetting some of the drag felt elsewhere. This domestic boost in income and the incentive for greater production efforts highlight a crucial difference in the economic equation.
Here&#8217;s a list of a few U.S. oil producers and oil ETFs.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Listed Oil Companies</td>
<td>Friday&#8217;s Performance</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)</td>
<td>2.18%</td>
<td>4.48%</td>
<td>3.47%</td>
</tr>
<tr>
<td>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)</td>
<td>0.65%</td>
<td>-0.55%</td>
<td>-4.75%</td>
</tr>
<tr>
<td>Occidental Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>3.78%</td>
<td>-6.75%</td>
<td>-22.84%</td>
</tr>
<tr>
<td>EOG Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>)</td>
<td>3.89%</td>
<td>0.46%</td>
<td>5.21%</td>
</tr>
<tr>
<td>Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>)</td>
<td>0.65%</td>
<td>17.43%</td>
<td>-3.25%</td>
</tr>
<tr>
<td>CVR Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>)</td>
<td>4.95%</td>
<td>43.50%</td>
<td>-0.37%</td>
</tr>
<tr>
<td>Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>)</td>
<td>1.88%</td>
<td>-5.47%</td>
<td>-16.80%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Listed Oil ETFs</td>
<td>Friday&#8217;s Performance</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>United States Oil Fund LP (ARCA&#8221; USO)</td>
<td>6.89%</td>
<td>4.28%</td>
<td>4.28%</td>
</tr>
<tr>
<td>ProShares Ultra Bloomberg Crude Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>)</td>
<td>8.65%</td>
<td>-7.44%</td>
<td>-19.06%</td>
</tr>
<tr>
<td>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>)</td>
<td>2.67%</td>
<td>-1.51%</td>
<td>-6.96%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/forex/25/06/45943600/is-us-dollar-losing-its-edge-de-dollarization-and-fading-exceptionalism-raise-alarms">Is US Dollar Losing Its Edge? De-Dollarization And Fading Exceptionalism Raise Alarms</a>
Why It Matters: Despite escalating conflict, Iran has notably reduced its missile barrages on Israel, with the Institute for the Study of War (ISW) attributing this to the effectiveness of Israeli airstrikes.
Early waves on Friday and Saturday saw Iran launching 100-200 missiles per wave. However, subsequent attacks have <a href="https://www.benzinga.com/markets/equities/25/06/45944854/irans-missile-stockpile-may-be-shrinking-as-strikes-on-israel-taper-off-says-think-tank-lmt-rtx-gd-in-focus">dropped to 35-40 missiles each</a>, indicating a significant impact on Iran&#8217;s launch capacity. 
Initial estimates placed Iran&#8217;s missile stockpile at around 2,000, with an alleged plan to fire 1,000 ballistic missiles. Yet, Israeli strikes reportedly damaged or destroyed numerous launchers and silos, limiting Iran to just 200 launches. This suggests Iran may soon face difficulties sustaining its current missile attack rate.
Price Action: As of the publication of this article, Crude Oil WTI Futures were 1.32% lower at $70.47, and Brent Oil was down 1.24% to $73.31.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 0.50% at $599.99, while the QQQ advanced 0.56% to $529.93, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. 
Image Via Shutterstock

Exxon Mobil, Chevron, Occidental Petroleum In Focus As Expert Says 'US Economy Is Far Less Sensitive To An Oil Shock' Amid Israel-Iran Conflict

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Shares of energy stocks are trading higher following Israel's strikes on Iran, which have raised oil prices amid potential disruptions in production.

Recent stock trades made by a senator could show conflicts of interest given his committee assignments and ramp up the call to ban members of Congress from being able to buy and sell stocks.
Here's a look at the recent stock trades made by Senator Markwayne Mullin (R-Okla.).
What Happened: Mullin recently bought stock in several stocks, while also selling a position in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500. The trades are shown on the <a href="https://www.benzinga.com/gov-trades/members/markwayne-mullin">Benzinga Government Trades page.</a>
According to a recent disclosure, Mullin bought the following stocks on May 13:
<ul class="wp-block-list">
<li>Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>): $15,000 to $50,000</li>
<li>Applied Materials Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>): $15,000 to $50,000</li>
<li>CSX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>): $15,000 to $50,000</li>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): $50,000 to $100,000</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>): $15,000 to $50,000</li>
<li>LPL Financial Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>): $15,000 to $50,000</li>
<li>L3 Harris Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>): $15,000 to $50,000</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>): $15,000 to $50,000</li>
<li>Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>): $15,000 to $50,000</li>
<li>Thermo Fisher Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>): $15,000 to $50,000</li>
<li>Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>): $50,000 to $100,000</li>
<li>Zoetis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>): $50,000 to $100,000</li>
</ul>
In the same disclosure, Mullin also reported selling $500,000 to $1 million worth of SPDR S&amp;P 500 ETF Trust.
He reportedly bought between $285,000 and $750,000 in new stock positions, along with total transactions ranging from $785,000 to $1.75 million.
One of the most active stock traders in the Senate, Benzinga shows 325 trades worth $8.47 million, and Quiver Quant <a href="https://www.quiverquant.com/congresstrading/politician/Markwayne%20Mullin-M001190">shows </a>$15.5 million in trades from Mullin in recent years.
His net worth is listed by Quiver Quant at $65.7 million, with part of the wealth coming from selling businesses before becoming a Congressman from 2013 to 2023 and later a Senator since 2023.
The Senator's purchase of L3 Harris Technologies could raise red flags, given that it is a large defense stock and Mullin <a href="https://www.senate.gov/general/committee_assignments/assignments.htm#MullinOK">sits </a>on the Committee on Armed Services.
The purchase of oil stocks also involves Mullin, who belongs to the Subcommittee on the Department of Interior, Environment, and Related Agencies.
The Republican senator is on numerous committees and could have inside information about government policy and contracts while making his stock transactions.
Mullin denied past conflicts of interest when he owned shares of Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and was set to vote on a potential TikTok ban, which could help Meta.
Check This Out:
<ul class="wp-block-list">
<li>Lawmakers Are Making Huge Investments In 2025. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent061225">See What They&#8217;re Buying And Selling With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Mullin's latest trades come as a call to ban members of Congress from buying and selling stocks and options is gaining support.
Sen. Josh Hawley (R-Mo.)<a href="https://www.benzinga.com/politics/25/04/45077654/bill-named-after-nancy-pelosi-could-ban-congress-members-from-trading-stocks-what-you-need-to-know-about-the-pelosi-act" target="_blank" rel="noreferrer noopener"> introduced the</a> Preventing Elected Leaders from Owning Securities and Investments Act, or PELOSI Act, based on the first letter of each of the main words. The name takes aim at Congresswoman and former Speaker of the House Nancy Pelosi (D-Calif.).
Pelosi, whose husband is a frequent stock trader and venture capitalist, likely doesn&#8217;t support the bill that would limit her husband's transactions while she&#8217;s in office.
Speaker of the House Mike Johnson (R-La.), also in <a href="https://www.benzinga.com/politics/25/05/45449720/speaker-johnson-backs-congressional-stock-trading-ban-ruined-by-a-few-bad-actors">favor of a ban</a>, said there is zero tolerance for &#8220;anything resembling insider trading.&#8221;
President Donald Trump recently said he would support such a ban and that he would sign the bill if Congress passed it
"Well, I watched Nancy Pelosi get rich through insider information, and I would be okay with it. If they send it to me, I would do it," Trump told TIME.
Benzinga<a href="https://www.benzinga.com/trading-ideas/25/05/45552223/exclusive-congress-trading-ban-sees-huge-support-in-reader-poll-heres-the-percent-that-say-let-them-keep-trading-stocks"> recently polled readers</a> to see where they stand on a potential ban on Congress trading.
&#8220;Should members of Congress be allowed to buy and sell stocks, options and ETFs?&#8221; Benzinga asked.
These were the results:
<ul class="wp-block-list">
<li>They should not be allowed to trade stocks, options or ETFs:&nbsp;43%</li>
<li>They should be allowed to trade as long as they report within 24 hours:&nbsp;24%</li>
<li>They should only be allowed to trade ETFs and mutual funds:&nbsp;14%</li>
<li>They should be allowed to trade as long as they report in 45 days: 11%</li>
<li>They should only be allowed to trade stocks: 8%</li>
</ul>
The poll found that 43% of readers support an outright ban on members of Congress being able to trade stocks, options, or ETFs. Eleven percent voted that the current rules should be left alone with a 45-day disclosure window.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/politics/25/04/44852406/marjorie-taylor-greene-brushes-off-stock-buying-criticism-says-portfolio-manager-bought-the-dip">Marjorie Taylor Greene Brushes Off Stock Buying Criticism, Says Portfolio Manager &#8216;Bought The Dip&#8217;</a></li>
</ul>
Photo: Shutterstock

Politics

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GOP Senator On Armed Services Committee Buys This Defense Stock In Potential Conflict Of Interest

On June 11, 2025, it was reported that Senator Markwayne Mullin executed a sale of SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) stock, valued between $500,001 and $1,000,000. The transaction, recorded in the June filing, was made on May 13, 2025.
At the time of writing, SPDR S&amp;P 500 shares are trading up 0.27% at $602.99.
<h3>Senator's Recent Trading Activity</h3>
Over the past three years, Markwayne Mullin executed 325 trades totaling over $8.47 million. The largest of these trades were in Russell 1000 Ishares ETF and SPDR S&amp;P 500 stock. Some of the key transactions the Sen. has executed recently include: 
<ul>
<li>SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>): $500,001 - $1,000,000 Sale</li>
<li>Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): $50,001 - $100,000 Purchase</li>
<li>Valero Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>): $50,001 - $100,000 Purchase</li>
</ul>
Here is a list of Markwayne Mullin's most recent trades:
<table>
<thead>
<tr>
<th>Company</th>
<th>Ticker</th>
<th>Stock Type</th>
<th>Amount</th>
<th>Transaction Type</th>
<th>Transaction Date</th>
</tr>
</thead>
<tbody>
<tr>
<td>Adobe</td>
<td>ADBE</td>
<td>STOCK</td>
<td>$15,001 - $50,000</td>
<td>P</td>
<td>2025-05-13</td>
</tr>
<tr>
<td>Applied Mat</td>
<td>AMAT</td>
<td>STOCK</td>
<td>$15,001 - $50,000</td>
<td>P</td>
<td>2025-05-13</td>
</tr>
<tr>
<td>CSX</td>
<td>CSX</td>
<td>STOCK</td>
<td>$15,001 - $50,000</td>
<td>P</td>
<td>2025-05-13</td>
</tr>
<tr>
<td>Chevron</td>
<td>CVX</td>
<td>STOCK</td>
<td>$50,001 - $100,000</td>
<td>P</td>
<td>2025-05-13</td>
</tr>
<tr>
<td>ConocoPhillips</td>
<td>COP</td>
<td>STOCK</td>
<td>$15,001 - $50,000</td>
<td>P</td>
<td>2025-05-13</td>
</tr>
</tbody>
</table>
Stay informed on Markwayne Mullin's trades and other members of Congress with our real-time <a href="https://www.benzinga.com/gov-trades/members/markwayne-mullin">government trades tracking tool</a>!
<h3>The Importance of Congressional Transactions</h3>
A congressional transaction is when any representative or senator either buys or sells an individual stock.
Anyone working in Congress must file a Periodic Transaction Report to inform the public of their recent transaction within 30 days of being notified of the transaction and within 45 days of the transaction date.
In April 2012, Former President Barack Obama signed the STOCK Act into law. The act prohibits members of Congress from using private information given to them by their position for personal gain such as buying or selling a stock. The act also expanded disclosure requirements for members of Congress by requiring them to file a monthly disclosure.
<h3>Why Congressional Transactions Matter</h3>
Congressional transactions shouldn't be the primary reason for an investing decision, but they can be an important factor for an investor to consider.
When a senator or representative makes a new purchase, it could be an indication they expect the stock to rise.
A sale, on the other hand, can be made for a variety of reasons, and may not necessarily mean the seller thinks the stock will go down.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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