Iran’s Threat Pushes Oil Prices Higher

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Oil (NYSEARCA:USO) prices are up from a nearly four-week low after Iran says that an interruption in crude supplies through the Strait of Hormuz would distress markets in a way that “no country” could control.

Futures were up 1 percent after falling 2.8 percent last week. Iran has warned that it would close the strait in in answer to international sanctions on its exports. The strait is a route of transit for about a fifth of the world’s oil commerce.

Iran’s governor to OPEC said a disruption to the strait’s traffic will damage global crude markets, according to the state-run Mehr news agency. Nigerian labor unions halted protests after saying they would think about suspending oil production to oppose higher fuel prices.

Here’s how some of the world’s largest oil and gas companies closed trading on the week:

Chevron Corp. (NYSE:CVX): CVX shares recently traded at $106.09, up $1.12, or 1.07%. They have traded in a 52-week range of $86.68 to $110.99. Volume today was 8,268,333 shares versus a 3-month average volume of 9,193,680 shares. The company’s trailing P/E is 7.86, while trailing earnings are $13.50 per share.

BP plc (NYSE:BP): BP shares recently traded at $43.77, down $0.43, or 0.97%. They have traded in a 52-week range of $33.62 to $49.40. Volume today was 4,711,995 shares versus a 3-month average volume of 6,885,570 shares. The company’s trailing P/E is 6.06, while trailing earnings are $7.22 per share.

Exxon Mobil Corp. (NYSE:XOM): XOM shares recently traded at $84.88, up $0.14, or 0.17%. They have traded in a 52-week range of $67.03 to $88.23. Volume today was 15,551,570 shares versus a 3-month average volume of 19,957,200 shares. The company’s trailing P/E is 10.25, while trailing earnings are $8.28 per share.

ConocoPhillips (NYSE:COP): COP shares recently traded at $70.34, down $0.42, or 0.59%. They have traded in a 52-week range of $58.65 to $81.80. Volume today was 9,584,040 shares versus a 3-month average volume of 8,173,520 shares. The company’s trailing P/E is 9.02, while trailing earnings are $7.80 per share.

Total SA (NYSE:TOT): TOT shares recently traded at $49.63, down $0.54, or 1.08%. They have traded in a 52-week range of $40.00 to $64.44. Volume today was 3,921,427 shares versus a 3-month average volume of 3,722,090 shares. The company’s trailing P/E is 7.34, while trailing earnings are $6.76 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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