|Bid||0.00 x 800|
|Ask||0.00 x 900|
|Day's Range||64.02 - 64.59|
|52 Week Range||61.22 - 64.59|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||2.91 (4.61%)|
|1y Target Est||60.83|
Oil prices closed lower on Friday, after wavering between gains and losses in anticipation of renewed U.S. economic sanctions on Iran. Light, sweet crude for June delivery settled down 21 cents, or 0.3%, at $71.28 a barrel on the New York Mercantile Exchange. President Donald Trump last week pulled the U.S. out of a 2015 international agreement to curb Iran’s nuclear program, setting the stage to reinstate sanctions on the Islamic Republic, a member of the Organization of the Petroleum Exporting Countries.
Oil prices rose Friday, with Brent crude trading close to the $80-a-barrel threshold, in anticipation of renewed U.S. economic sanctions on Iran. July Brent crude (IFEU:LCO=F) rose 30 cents, or 0.4%, at $79.60 a barrel on ICE Futures Europe, after tapping a high of $80.50. On the New York Mercantile Exchange, June West Texas Intermediate crude (CLM18.NYM), the U.S. benchmark, edged up by 6 cents, or 0.1%, to $71.56 a barrel, holding at a 3½ year high.
Brent crude prices pared gains to settle near unchanged after hitting $80 a barrel Thursday, as Washington’s decision to reinstate sanctions on Iran continued to fuel a rally that has pushed the market to 3 1/2 -year highs. Brent crude, the global oil benchmark, settled up 2 cents at $79.30 a barrel on London’s ICE Futures exchange, having earlier moved past $80, its highest level since November 2014. On the New York Mercantile Exchange, West Texas Intermediate futures settled unchanged at $71.49 a barrel after earlier climbing above $72 a barrel.
European companies have followed the U.S. lead, with Total SA, France's oil giant, halting work on an Iranian natural-gas project and warningd that it may pull out of a $1 billion joint venture with the country. Brent crude, the global benchmark, was trading at three-and-a-half-year highs, up 0.73% at last check to $79.87 a barrel, while while West Texas Intermediate crude, the U.S. benchmark, rose 0.62% to $71.93. Here are how some industrial stocks that are part of the Action Alerts PLUS portfolio were doing following the rise in oil prices.
Amid increasing uncertainty due to proposed sanctions by the Trump administration on Iran, oil giant Total SA (ADR) ( TOT) has suspended its $2 billion project in Iran, reports CNN. The project involves the development of the Middle-eastern nation’s giant South Pars gas field. The deal signed in November 2016 to develop the gas field marked the return of the France-based oil company to Iran after a gap of nearly 15 years.
Brent crude prices climbed past $80 a barrel Thursday, as Washington’s decision to reinstate sanctions on Iran continued to fuel a rally that has pushed the market to 3½-year highs. Brent crude (IFEU:LCO=F) , the global oil benchmark, was up 0.8% , or 74 cents, at $80.02 a barrel on London’s ICE Futures exchange, revisiting an earlier move past $80, its highest level since November 2014. On the New York Mercantile Exchange, West Texas Intermediate futures (CLM18.NYM) were up 66 cents, or 0.9%, at $72.14 a barrel.
Total SA’s decision to stop investing in Iran shows that international companies are going to have trouble doing any business with the Persian Gulf nation, including buying its oil. Continuing to do business in Iran would be too great a risk as Total has large operations in the U.S. and depends on the country’s banks for financing, it said in a statement Wednesday. The comments from Total -- the first Western oil company to sign binding agreements to develop Iran’s oil and gas fields following the end of a previous round of sanctions in 2015 -- illustrate the challenge posed by renewed American restrictions.
LONDON—European firms have started pulling back investment and abandoning commitments in Iran, responding to a decision last week to reimpose broad American sanctions on Tehran by year end. Some shippers of Iranian oil have said they are ceasing to facilitate such trades because of the new sanctions. Insurance companies are studying whether they may have to reduce or stop their underwriting on the Islamic Republic’s shipments.
ExxonMobil (XOM) stock is covered by 22 Wall Street analysts, six (or 27.0%) of whom have assigned a “buy” or “strong buy” recommendation on the stock. Thirteen analysts (or 59.0%) assigned “hold” ratings on the stock. Three analysts (or 14.0%) assigned a “sell” or “strong sell” rating on the stock. ExxonMobil’s mean target price of $86.00 per share implies a 7.0% gain from the current level.
LONDON, UK / ACCESSWIRE / May 11, 2018 / If you want access to our free research report on TOTAL S.A. (NYSE: TOT), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TOT as the Company's latest news hit the wire. On May 09, 2018, the Company announced that it has inked a deal to sell its retail business in Haiti to Bandari Corp. Ltd, which is a consortium formed by several local and regional major players. The retail business in Haiti consists of a network of 92 service stations and general trade fuel sales operations.
Global energy heavyweight Total is taking a 25% stake in the North American leader in natural gas for transportation.
President Donald Trump on Tuesday said the U.S. would levy the “highest level” of sanctions against Iran—including the punishment of Western companies and banks if they continue to do business with the country—as Washington pulled out of the Iranian nuclear accord. Senior administration officials said economy-crippling sanctions that persuaded Iran to sign the 2015 nuclear accord were immediately back in place with the president’s decision to withdraw from the deal. While new contracts are banned, companies and banks will have 90 days or 180 days to wind down their ties before risking penalties, the administration said.
McDermott (MDR) is needed to provide a detailed design for the project in North field, which can lead to an Engineering Procurement Construction Installation (EPCI) contract.
TEHRAN—Multinational companies that recently made big bets on Iran scrutinized the Trump administration’s decision to revive sanctions on the country for ways to preserve their interests there. said he would pull out of a multilateral deal that removed most economic sanctions on Iran in exchange for curbs on its nuclear ambitions. European executives—who plunged back into Iran more quickly than their American rivals after the nuclear pact took effect in 2015—are now reviewing once-heady investment plans there.
President Donald Trump announced Tuesday that he would reinstate "the highest level of economic sanctions" against Iran and withdraw from the nuclear deal negotiated by his predecessor. “This ...
The threat of President Donald Trump exiting the Iran nuclear agreement might be a nightmare for international diplomacy, but investors in oil stocks have thoroughly enjoyed the volatile ride. Since reports surfaced in mid-March that Trump may pull out of the deal and Iran hawk John Bolton’s appointment as national security adviser spurred a rally in oil, global energy shares have outperformed against a backdrop of lackluster equity markets. Trump said he’ll announce the long-awaited decision at 2 p.m. in Washington Tuesday after strongly hinting that he will withdraw.
With Donald Trump set to announce a decision today on whether to re-impose U.S. sanctions on OPEC member Iran, $200 billion in potential energy deals hang in the balance. Since sanctions were eased as of January 2016, France’s Total SA has been the only Western energy major to invest in Iran, pledging to spend $1 billion at the giant South Pars gas field. Chief Executive Officer Patrick Pouyanne says Total will withdraw from the project if it doesn’t get a waiver.
DUBAI, United Arab Emirates (AP) — From airplanes to oilfields, billions of dollars are on the line for international corporations as President Donald Trump weighs whether to pull America out of Iran's nuclear deal with world powers.