Chevron CFO Eimear Bonner anticipates a decline in US gasoline prices as the Middle East situation normalizes, despite President Trump's investigation into oil majors for alleged price gouging. Bonner stated a lag exists between crude price drops and pump prices, emphasizing efforts to optimize production.
Chevron CFO Eimear Bonner expects U.S. gasoline prices to fall as the Middle East normalizes, responding to President Trump's accusation of "gouging" and a DOJ investigation into oil majors for high fuel costs despite declining crude prices.
Donald Trump has instructed the US Department of Justice to investigate oil companies for alleged price gouging, accusing them of not adequately lowering gas prices despite a sharp decline in crude oil costs following a US-Iran ceasefire and the reopening of the Strait of Hormuz.
President Trump has instructed the DOJ to investigate major oil companies for allegedly "gouging" consumers by not lowering gas prices commensurate with falling crude oil costs. Meanwhile, Meta is developing a prediction markets app using a points system, not real money.
Europe's oil supermajors highlighted trading contributions as they reported stronger-than-expected profits through the first three months of the year.
La crisi di Hormuz mette in discussione il ruolo del petrolio, ma il trend delle energie verdi era già in corso. E la guerra sulle fonti green per Trump è contro la Cina
The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren't signaling plans to increase production to bring down prices at the pump.
The war in Iran has pushed global oil prices up, but there's no sign of a huge surge in U.S. production and the future of Venezuelan oil remains murky.
Norway's Equinor told CNBC that the company expects the Iran war to deliver a boost to its transition industries.
NatWest chair Rick Haythornthwaite faced investor backlash at the bank's annual shareholder meeting in Edinburgh, which was temporarily suspended after Extinction Rebellion protesters interrupted with a song to the tune of Frère Jacques. Shareholders criticized the bank's recent decision to drop a commitment not to lend to oil and gas companies lacking credible transition plans. The Church of England pension board voted against Haythornthwaite's re-election, while Share Action representing $1.4tn in assets called for a meeting within three months. Haythornthwaite was re-elected with 92% support — the lowest approval among 25 resolutions — and defended the policy changes as a "pragmatic middle road". Union representatives also raised concerns about executive pay versus staff wages.
