Energy Shares Rise as Mideast Tensions Boost Oil

Dow Jones05:20

Shares of companies in the energy sector rose as oil prices rallied and the dispute over the Strait of Hormuz went into the weekend without a clear path for peace.

The U.S. struck multiple bridges in and around Bandar Abbas, Iran on Thursday in an effort to cut off supply routes to the port city and naval base in the Strait of Hormuz that Iran uses to attack ships and project power, according to a senior U.S. official.

Chevron intends to sign preliminary deals to invest in two Iraqi oil fields and will join a consortium of investors exploring the construction of a pipeline to connect Iraq's oil patch with the Syrian coast. Iraq and other Middle East oil producers are scrambling for alternatives to the Strait of Hormuz, which Tehran has sought to shut down and put under its control, triggering a U.S. military response.

Kimbell Royalty Partners said it would buy $215.4 million of oil and gas royalties from affiliated sellers in a "drop down" acquisition. The company said the purchase price includes $74.9 million in cash and 9.5 million newly issued units of Kimbell Royalty Operating, valued at $140.5 million.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

July 17, 2026 17:20 ET (21:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The company said the purchase price includes $74.9 million in cash and 9.5 million newly issued units of Kimbell Royalty Operating, valued at $140.5 million. \n\n\n \n\n\n  Write to Paulo Trevisani at paulo.trevisani@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  July 17, 2026 17:20 ET (21:20 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"economic","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2652238778","isCrawlerRequest":true}