Oil & Gas 11 February 2026 - 13 February 2026

Dow Enters Correction as Iran War Sends Oil Above $110 and Drags Wall Street to Six-Month Lows
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Dow Enters Correction as Iran War Sends Oil Above $110 and Drags Wall Street to Six-Month Lows

U.S. stocks closed at six-month lows Friday, with the Dow and Nasdaq both entering correction territory as investors braced for a prolonged Iran war. The S&P 500 fell 1.7%, the Nasdaq dropped 2.1%, and the Dow slid 1.75%. Oil prices surged, with Brent crude up 53% since late February. Consumer sentiment dropped to 53.3 in March, while inflation expectations and gasoline prices climbed.
March 27, 2026
Transocean (RIG) stock price nudges up premarket after $184 million Norway backlog update
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Transocean (RIG) stock price nudges up premarket after $184 million Norway backlog update

Transocean shares rose 0.6% to $6.03 premarket after announcing new Norway contracts adding about $184 million in firm backlog. The company disclosed a seven-well extension for Transocean Encourage and two options for Transocean Enabler, extending commitments into 2027. Investors await Feb. 19 earnings and updates on the $5.8 billion Valaris acquisition.
February 13, 2026
Chevron stock slips as oil drops; Venezuela block report and Libya entry come into focus
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Chevron stock slips as oil drops; Venezuela block report and Libya entry come into focus

Chevron shares fell 1.4% to $183.25 as oil prices dropped sharply after the IEA flagged weaker demand and rising supply. Exxon Mobil and BP U.S. shares also declined, tracking crude. Chevron was named winning bidder for Libya’s Sirte S4 exploration license, pending a production-sharing agreement. Venezuela may grant Chevron and Repsol new oil blocks this week, according to Bloomberg sources.
February 12, 2026
Oil jumps toward $70 as U.S.-Iran tensions outweigh surprise crude stock build
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Oil jumps toward $70 as U.S.-Iran tensions outweigh surprise crude stock build

Brent crude rose 1.77% to $70.02 a barrel and U.S. WTI climbed 1.89% to $65.17 on Wednesday, lifted by U.S.-Iran tensions despite an 8.5 million barrel surge in U.S. crude inventories. President Trump said he may send a second carrier to the Middle East as talks with Iran continue. OPEC projected lower demand for its crude in the second quarter. Traders await the IEA’s update Thursday and U.S. inflation data Friday.
February 11, 2026
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