147-year-energy behemoth expected to raise dividends as oil surges past $90

Group 1: Oil Market Dynamics - West Texas Intermediate (WTI) crude futures surged over 12% on March 6, closing at $90.90 per barrel, with a weekly gain of 35.63%, the largest in the futures contract's history since 1983 [1] - Global benchmark Brent jumped 28%, marking its largest weekly gain since April 2020 [1][2] - The widening conflict in the Middle East has disrupted oil shipping routes, particularly the Strait of Hormuz, through which about 20% of global oil consumption passes [2] Group 2: Impact on Chevron - Chevron, valued at a market cap of $379 billion, has seen its stock price rise by 21% in 2026 due to the ongoing conflict between the U.S. and Iran [4] - The company has a dividend and capital expenditure breakeven below $50 per barrel of Brent, allowing it to cover dividends even if oil prices fall significantly [4] - Chevron has maintained a strong balance sheet and has raised its dividend for 39 consecutive years, with a recent 4% increase announced [5][6] Group 3: Dividend Metrics - Chevron's annual dividend per share is approximately $7.12, with a quarterly dividend per share of $1.78 and a dividend yield of approximately 3.76% [7][9] - Over the past four years, Chevron has returned more than $100 billion to shareholders through dividends and share buybacks [7][9] - The company plans to repurchase more than $14 billion in shares in 2025, including shares acquired from Hess at a discount [9]