Chevron Surges as Global Oil Prices Soar After US Strike

Chevron's stock price surged to $207.57 on August 30, 2026, as global oil prices skyrocketed following a U.S. military strike on Iranian missile launchers in the Strait of Hormuz.

The move pushed up West Texas Intermediate (WTI) crude by around 3.5% in premarket trading, benefiting integrated oil majors like Chevron.

This bullish momentum was further amplified by the Trump administration's landmark deal with Venezuela, granting the U.S. 55% of net production from 17 oil fields holding 65 billion barrels of proven reserves.

Chevron and peer Halliburton were reportedly in discussions to expand their operational footprint in the country under this new framework.