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Stock impact report

Chevron, Shell make stunning Venezuela move as Iran crisis deepens [Yahoo! Finance]

Chevron Corporation (CVX) 
Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report
US:NYSE Investor Relations: chevron.com/investors
Company Research Source: Yahoo! Finance
Chevron ( CVX and Shell are closer to inking major deals as the Iranian crisis looms in the backdrop. Both energy giants are inching toward some of the first major production agreements in Venezuela since the January political upheaval, Reuters reports. This led to a massive opening in the market. The story is massive, but the timing makes it even more compelling. Fresh Reuters reporting on March 11 and March 12 reveals how quickly the Middle East crisis is tightening the market. Iran is said to be putting land mines in the Strait of Hormuz, which is the waterway that usually carries about 20% of the world's oil and LNG Oil prices are up, and the International Energy Agency warns that the world faces the biggest oil-supply disruption ever because of the conflict. While Venezuela will not immediately replace the Gulf supply, Venezuelan barrels, which have been stuck in limbo amid politics, sanctions, and a lack of investment, now look more appealing to global producers and b Show less Read more
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