Oil Extends Losses After US, Qatar Signal Progress on Iran Draft Deal

GeopoliticsCommodity
โดย Oilprice.com·Read original
Summary · why it matters

Brent crude fell back to around $80 per barrel after renewed optimism over a potential US-Iran draft agreement eased geopolitical fears, even as President Trump criticized US refiners for high fuel profits. Comments from US Treasury Secretary Scott Bessent and Qatar's Foreign Ministry about a draft agreement being drafted buoyed hopes for a diplomatic resolution to the US-Iran conflict. Trump accused ExxonMobil and Chevron of making too much money and told them to give some of that money back to the public, while the 3-2-1 spread has doubled since early March to $60 per barrel. The average US gasoline pump price has dipped to $4.08 per gallon as of August 4, up 30% from a year ago. Separately, Shell agreed to sell its European onshore renewables portfolio to TotalEnergies, BP completed the divestment of its Gelsenkirchen refinery in Germany, and SOCAR bought out Itochu's 3.65% operating interest in the Azeri-Chirag-Guneshli offshore field.

Impact on stocks 8

Energy Transition & Power Demand± Mixed · 4 stocks
Exxon Mobil Corp
XOM
▼ NegativeRegulationrelevance

Trump criticized ExxonMobil for high fuel profits and demanded they give money back to the public.

BP PLC
BP
▲ PositiveCapitalrelevance

BP completed divestment of Gelsenkirchen refinery, a portfolio optimization.

Shell plc
SHEL
▲ PositiveCapitalrelevance

Shell agreed to sell European onshore renewables portfolio to TotalEnergies.

Itochu Corporation
8001
▼ NegativeCapitalrelevance

SOCAR bought out Itochu's 3.65% operating interest in ACG field, reducing Itochu's stake.

Energy± Mixed · 3 stocks
Chevron Corp
CVX
▼ NegativeRegulationrelevance

Trump criticized Chevron for high fuel profits and demanded they give money back to the public.

TotalEnergies SE
TTE
▲ PositiveCapitalrelevance

Shell agreed to sell its European onshore renewables portfolio to TotalEnergies, expanding its assets.

Information Technology▲ · 1 stocks
Socar Inc.
403550
▲ PositiveSupplyrelevance

SOCAR bought out Itochu's 3.65% operating interest in ACG field, increasing its stake.

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