Global energy markets reacting to Israeli strikes on Iran. CNBC's a senior national correspondent. That doesn't But you're you know a lot about oil.You go to Austria all the time and Vienna and OPEC. You join us now. What can you tell us.Alaska, right. Yeah. Alaska. Alaska.I can I can tell us that. I'm going to take a different tact. Okay.Oil has is up 8%. It's one of the biggest moves in years. Okay.Single day moves. We're at 7351 here. Just about $80.Brent crude in Europe. Why aren't we at $100 a barrel. ...

The results of the CNBC NRF retail monitor for May just released. Let's get to Steve Leeman. He has more on this.Hi, Steve. Hey, Becky. Consumer spending growth slowed in May.Apparent payback from strong April outlays that were propelled by consumers pulling forward purchases ahead of tariffs. And consumers of course could now face new challenges after developments overnight in the Middle East. Uh the CNBC NRF retail monitor.It's powered by real credit card spending data from Affinity Solutions showed a 0.5 ...

bring in Haleem Croft, global head of commodity strategy at RBC Capital Markets and a CNBC contributor. This about what you would expect with something like this. This is about what we'd expect.I think the key thing to watch now will be what will the Iranian retaliation look like beyond the drone strike that we saw yesterday. Obviously, people be paying attention to the regional energy infrastructure. There's a lot of concern over the straight of Hormuz.20% of global oil supply goes through there on a daily ...

We are watching very closely the reaction to everything we're hearing from the Middle East after that Iranian strike, the strike on Iran from Israel. You can see this morning that the futures have pulled back substantially. Dow futures are off by over 500 points this morning.The Nasdaq indicated down by about 310. The S&P futures off by 70 and this is coming as uh we had been looking at positive issuances from the United from the US stocks. Uh we were looking yesterday at the stocks up across the board once ...

At the moment. I think the big thing that came through was there were local reports that there was no damage to oil infrastructure in Iran. That was one of the threats, I think, in the morning when you saw Brent's prices spiked as much as 13%.We're now up 7%. So we've kind of curved back. Still up a lot, but not where we were a few hours ago.I think the market was carefully watching. What's the impact on the oil physically in the market right now. Right.If there was any impact on Iran's oil production capac ...

Let's talk oil prices. They're easing off a little bit, but they hit a two-month high yesterday on growing tensions in the Middle East. Tensions that are high enough that President Trump addressing concerns about a possible Israeli strike on Iran.Listen to this. How imminent is an Israeli strike on Iran. Well, I don't want to say imminent, but it looks like it's something that could very well happen.Look, it's very simple, not complicated. If it's big enough for the president to talk about, it's certainly b ...

I am rating Devon Energy (NYSE: DVN ) with a Buy and a $40 price target. Based on historical valuations of a 4.8x EV/EBITDA multiple, the company is undervalued, trading at roughly 4.1x. Before diving into the main points of this article, I will provideWith over two decades of experience, Jaime is a former sell-side and buy-side equity research analyst with deep and extensive knowledge of the energy and clean technology sector. He is a long-only fundamental analyst focusing on small to mid-cap companies. No ...

Key Takeaways XOM's upstream earnings are under pressure due to a more than 7% drop in WTI crude prices this year. Despite falling oil prices, XOM's low-cost Permian operations help shield it from outright upstream losses. XOM trades at a 6.65X EV/EBITDA, higher than the industry average, with shares up 1.5% year to date.Exxon Mobil Corporation (XOM) generates a significant portion of its earnings from the upstream business, which is positively correlated with oil prices. Given that the price of West Texa ...

9 June 2025 | 9:44PM EDT Oil Tracker: Price Recovery Amid Easing Demand Concerns and Mixed Tightness Signals Brent prices rose by $3 to $67/bbl over the past 10 days on: 1) fading demand fears, 2) downside risks to North American supply, and 3) geopolitical tensions between Russia-Ukraine and Israel-Iran. Prices rose despite mixed signals about physical tightness—including rising inventories—and about OPEC+ supply. The US May jobs report and ISM surveys suggest the economy is slowing slightly. However, mark ...

Good morning. Let's start with Opec+, because I think that's been the main event for the crude market over the last several months. What's policy now and what's the strategy behind it.So you can make the case that Opec+ is trying three three things at once, rates trying to increase market share. I think it's more of a Saudi thing. You could argue there is a discipline element to what Saudi's doing because it's really driven by Saudi Arabia and the surfeit of it is is well, why now.Clearly, lower oil prices ...