Shares of energy companies rose in anticipation of escalating military tensions in the Middle East.
Oil futures initially surged after an Iranian warship entered the Red Sea, heightening tensions and fears of crude-supply disruptions sparked by attacks on shipping by Iran-backed Houthi rebels in Yemen.
Chevron said it will book $3.5 billion to $4 billion in charges for the fourth quarter, citing challenges tied to regulations in California and previously sold oil and gas production assets in the Gulf of Mexico.
A top Hamas leader was killed by a suspected Israeli strike in Beirut, according to two Lebanese security officials, raising the specter of further escalation in Israel's war against Palestinian militants in the Gaza Strip.
The Mexican government ordered state oil company Pemex to take over French industrial gas company Air Liquide's hydrogen plant at the Tula refinery in Hidalgo state as part of its push to become self-sufficient in fuel production.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-02-24 1716ET
