Stocks
Chevron Shares Edge Higher as Brent Crude Prices Hold Steady Near $91
Chevron's shares rose by 0.8% to $204.32 on August 18, 2026, after Brent crude prices held steady at $91.23.
The increase in Chevron's stock price comes as analysts predict a further 5.7% upside for the oil major, with the median target price standing at $216 per share.
The Strait of Hormuz remains a key driver behind the market movement, with Iran refusing to reopen the passage unless Washington fulfills demands such as removing oil sanctions and unfreezing assets.
Chevron's second-quarter earnings showed a significant operating leverage, with average Brent prices gaining $23 sequentially and leading to a $4.27 billion jump in upstream earnings.