Oil shares hit record highs amid Middle East conflict
pre-market1 source ↓written by the desknot a recommendation
- in just two
- $130bn
- a valuation
- £190bn
- boost for US
- $63.4bn
Shares in major oil companies have surged to all-time highs, driven by the ongoing conflict in the Middle East. The market value of the six largest western oil firms has increased by $130bn in just two weeks, with Shell reaching a valuation of £190bn. Analysts predict a $63.4bn boost for US firms like ExxonMobil and Chevron due to the energy supply shock.
This surge reflects significant market implications, as investors anticipate substantial windfalls for the industry amid rising oil prices. 💼
Not investment advice. For informational purposes only.