Imperial Oil has rallied 30% YTD, but further outperformance is unlikely unless oil prices recover, so I shift my rating from 'buy' to 'hold.' Strong cash flow generation and aggressive share buybacks make IMO a low-risk holding, but current valuation multiples are no longer attractive for capital appreciation. The company remains a solid choice for dividend and dividend growth investors, but upside is limited until share prices fall or oil prices firm up.
Here's why oil prices are climbing to their highest levels in two weeks, despite a group of oil producers agreeing to open the floodgates of global crude supply.
The U.S. continues to show it's serious about punishing Iran for its nuclear ambitions and support for terrorism, but tighter sanctions on Tehran risk being a shot in the foot for America's plans to keep crude-oil prices low.
WTI dips to $67.50 as OPEC+ hikes supply by 548,000 bpd and U.S. tariff threats add new risks to oil and gas market sentiment.
WTI crude oil is rebounding from its long-term support at $66, while natural gas prices are consolidating within the ascending channel, awaiting the next move.
On today's episode of Opening Bid, host Brian Sozzi looks at whether stocks can maintain record-level momentum as tariff concerns and technical signals raise caution. LPL Financial chief technical strategist Adam Turnquist joins Yahoo Finance Senior Reporters Allie Canal and Ines Ferré to preview earnings season and what could move markets.
CNBC's Brian Sullivan joins 'Squawk on the Street' to discuss the latest news on the energy market.
Oil prices rebound as tight supply offsets OPEC+ output hike. Traders eye $67.58 for crude futures breakout amid bullish oil demand outlook.
OPEC+ will increase oil production even more rapidly than expected next month as eight key alliance members agreed to raise supply by 548,000 barrels a day at a video conference on Saturday. The countries had announced increases of 411,000 barrels for each of May, June and July.
Goldman Sachs said it expects a group of eight OPEC+ members to lift oil production quotas by 550,000 barrels per day in September, which would complete the unwinding of 2.2 million bpd of voluntary cuts, as they look to normalize spare capacity amid resilient global oil demand.
Oil prices slipped 1% at the start of trading on Monday after OPEC+ accelerated output hikes and raised concerns about oversupply.
The Organization of the Petroleum Exporting Countries and its allies announced Saturday they will increase oil production by a larger-than-expected amount in August, as part of a continuing effort to reclaim market share by lowering prices.