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Exxon, Chevron profits quadruple to $26.6B on Iran war supply shock
Edgen Stock·Jul 31 2026, 22:55Share to
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[1] Exxon and Chevron are having a 'very good crisis' reaping massive profits during the Iran war (https://www.fastcompany.com/91583262/exxon-ch ...)[2] ExxonMobil, Chevron's combined profits quadrupled in three months as the Iran war raged (https://www.morningstar.com/news/marketwatch/ ...)[3] Chevron and Exxon quietly gush over giant profit (https://www.reuters.com/commentary/breakingvi ...)[4] Oil And Gas Companies Make Billions Thanks To Iran War That's Costing Us A Fortune (https://www.aol.com/articles/oil-gas-companie ...)[5] Exxon, Chevron Steer Windfall Profits Into Paying Down Debt (https://www.bloomberg.com/news/articles/2026- ...)
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Jul 31 2026, 23:20
OpenAI previews Astra multi-agent AI to US regulators July 31
OpenAI demonstrated its Astra model series to US regulators in Washington this week, a pre-release preview of multi-agent AI — a competitive frontier where Google DeepMind and Anthropic are also investing. OpenAI said the model is designed to tackle high-difficulty problems that single-agent systems struggle to solve, extending AI's reach into enterprise workflows that require sustained, coordinated execution. Multi-agent collaboration is widely viewed in the industry as the key path from AI "answering questions" to "autonomously completing tasks." The Astra series supports multiple AI agents working collaboratively over extended time spans, a capability the company says could expand AI's role in enterprise applications. The pre-release engagement with regulators reduces regulatory uncertainty for commercialization, potentially benefiting AI-related tech stocks and reinforcing OpenAI's competitive position in the multi-agent race. Performance benchmarks and commercial pricing for Astra have not yet been disclosed. The multi-agent approach represents a fundamental shift in how AI systems are architected. Instead of a single model processing a query, multiple specialized agents coordinate — each handling a distinct subtask, sharing context, and iterating toward a solution. This architecture suits complex workflows like supply chain optimization, financial analysis, and software development, where tasks span hours or days rather than seconds. OpenAI's move comes as Google DeepMind and Anthropic push similar capabilities. Google has been integrating agentic features into its Gemini platform, while Anthropic's Claude has demonstrated multi-step tool use in coding and research applications. Microsoft, OpenAI's largest investor, has been building agent orchestration tools into its Azure AI platform. **Altman's Washington strategy** Altman's personal attendance at the demonstration reflects a deliberate shift in how OpenAI approaches policy. Rather than announcing products and navigating regulatory scrutiny afterward, the company is engaging regulators before public release. This pre-emptive approach could smooth the path for Astra's commercial deployment, particularly in regulated industries like healthcare, finance, and government services where AI adoption has been slowed by compliance concerns. The demonstration also comes as US and EU regulators debate AI oversight frameworks. By showing regulators the technology before launch, OpenAI is attempting to shape the conversation on what multi-agent AI can and cannot do — a strategy that could give it a first-mover advantage in regulatory approval processes. For investors, the Astra preview suggests OpenAI is accelerating its product roadmap in the multi-agent space. The company's ability to demonstrate the technology to regulators before public release could reduce the risk of regulatory delays that have historically slowed AI commercialization. However, OpenAI has not disclosed Astra's performance benchmarks, training costs, or pricing — data that would help investors assess its competitive position against Google's Gemini and Anthropic's Claude. This article is for informational purposes only and does not constitute investment advice.
Jul 31 2026, 23:12
Iran threatens US, Israeli energy sites as Brent steadies near $90
**Iran's warning to strike US energy facilities and Israeli critical infrastructure marks a new escalation in a five-month war that has already shut most shipping through the Strait of Hormuz.** Iran warned it would strike US energy facilities in the region and Israeli critical infrastructure if attacked, extending the five-month conflict's reach as Brent crude steadies near $90 a barrel. "Iran has prepared full plans to respond to any potential reckless act," a senior Iranian security official told Tasnim News Agency early Saturday, according to CCTV International. The official said Iran's response options include striking Israeli critical infrastructure and US energy facilities in the region. The threat comes as Washington and Tehran exchange fresh waves of airstrikes after a five-day pause collapsed this week. US forces hit dozens of Iranian military targets Thursday in a two-hour operation, US Central Command said, while Iran's Islamic Revolutionary Guard Corps claimed to have destroyed three F-35 fighter jets at Al-Azraq Air Base in Jordan. Brent crude traded near $90 a barrel after surging 8 percent in the previous session, with the Strait of Hormuz — which handles roughly 20 percent of global oil consumption — largely closed to commercial shipping. The war, which began Feb. 28, has killed at least 3,434 people in Iran, according to the Iranian Health Ministry, including 55 during the latest escalation. US gasoline prices have climbed sharply as the blockade reduced crude and LNG supplies, a politically sensitive issue ahead of November midterm elections. ## Escalation risks spreading to Gulf energy heartland Iran's threat to strike US energy facilities in the region would mark a significant broadening of the conflict's scope. Until now, Tehran's retaliation has centered on Arab states in the Persian Gulf and Jordan, with attacks on US bases and shipping. Striking US energy assets — potentially in Gulf states hosting American military infrastructure — would draw Washington's regional allies deeper into the conflict. Saudi Arabia has already been pulled into the fray, joining the US in strikes against Iran-backed militias in Iraq after attacks on Saudi oil facilities. Houthi militants in Yemen, backed by Tehran, have attacked Saudi vessels in the Red Sea and announced a blockade targeting the kingdom. Two LNG vessels were struck by drones off Egypt's Mediterranean coast Wednesday, the first such attack in Egyptian waters since the war began. The economic toll is mounting. Saudi Arabia's economy contracted the most since the Covid-19 pandemic in the second quarter, driven by a 24.7 percent decline in the oil sector. Qatar has sent its first LNG shipment through the strait in three weeks, with Tehran's authorization, after pausing shipments when one of its tankers was attacked July 7. ## Diplomacy stalls as Iran signals no path back to talks Negotiations remain stalled. Pakistan's Foreign Ministry said talks between the US and Iran are "ongoing" to restore stability, particularly in the Strait of Hormuz, but Tehran has repeatedly denied active engagement with Washington. Iranian officials have expressed deep pessimism about the prospects for diplomacy, citing the collapse of the June interim agreement and what they describe as US dysfunction in executing even basic confidence-building measures. The last time Iran threatened to strike US energy infrastructure was in the opening weeks of the war in March, when Tehran fired ballistic missiles at US bases in the Gulf in response to the initial American-Israeli campaign. Those strikes caused limited damage but demonstrated Iran's willingness to escalate beyond the strait. If Iran follows through on its threat to strike US energy facilities, oil prices could spike well above current levels, with the strait already effectively closed. If Washington responds by targeting Iranian energy infrastructure — a step Trump has threatened — the conflict could expand further into the Gulf's energy heartland, with implications for global supply that would dwarf the current disruption. This article is for informational purposes only and does not constitute investment advice.
Jul 31 2026, 23:10
Momentum trade suffers worst wipeout since 2000 as AI names rebound
The S&P 500 closed above its 50-day moving average Friday as a two-day rebound capped the worst monthly momentum wipeout since November 2000. "The question really is, are we at the bottom of the momentum rotation?" said Michael Dickson, head of research at Horizon Investments. The Nasdaq Composite fell about 3 percent in July, its worst monthly showing since March and a second-straight drop, even as the S&P 500 stayed within striking distance of an early June record. The Cboe Volatility Index retreated to 15.99 on Friday after topping 20 earlier in the week. The iShares MSCI Momentum Factor ETF jumped 5.5 percent Thursday, its biggest daily advance since April 9, 2025, while the Nasdaq-100 popped 3.4 percent, its best day since May 12, 2025. The unwind followed the forced liquidation of Leopold Aschenbrenner's Situational Awareness hedge fund, with Citadel reaching a deal to buy the shares. Whether the rebound marks a durable bottom or a technical bounce in an overcrowded trade will be tested in August and September, historically the weakest two-month stretch of the calendar year. The momentum rout began in June as chip stocks, including memory plays like Micron Technology, went parabolic in April and May before reversing. Even as hyperscalers like Alphabet confirmed hundreds of billions in AI capital spending, semiconductor stocks, power names, and industrials continued to struggle. Investors rotated into software, financials, real estate, and other out-of-favor corners of the market. "Fundamentals have taken a complete back seat in the past six weeks," wrote HSBC's Max Kettern. The forced unwind of Situational Awareness, which held large positions in Nebius, Micron, CoreWeave, and SanDisk, triggered a fire sale that briefly sent the S&P 500 to its lowest since mid-June on Wednesday. Nebius surged 27 percent Thursday and added another 10 percent in early Friday trading. The Philadelphia semiconductor index jumped nearly 8 percent Thursday, while South Korea's Kospi posted its largest single-day gain on record. **Correlation index surges as breadth improves** The Cboe 1-month implied correlation index, which measures expected correlation between the top 50 S&P 500 stocks, surged from 3.3 on July 10 to above 12 this week, indicating a broader-based rally. When the S&P 500 fell Wednesday following the Fed meeting, only one stock in the index registered a 52-week low. Options positioning data from SpotGamma and Barchart shows the S&P 500's seesaw action centered around 7,500, with market makers buying dips below that level and selling rallies above it. A break below 7,450 could open the door for a bigger downside move, according to SpotGamma founder Brent Kochuba. Mark Hackett, chief market strategist at Nationwide, noted that the one-month average daily percent change for the Goldman Sachs high beta momentum basket surged to its highest level since 2020 in July — a volatility measure that has peaked around important inflection points, including the COVID selloff, the dot-com bubble peak, and the bottom of the post-2008 financial crisis market. Mike Shell, chief investment officer of Shell Capital, said prime broker data suggests the momentum liquidation is closer to its end than its beginning. "If AI demand, earnings, and capital spending remain intact, I view the drawdown as an opportunity to begin selectively buying the strongest AI companies — not necessarily the basket itself," Shell said. Oil prices rebounded in July, pushing energy stocks to a strong monthly gain, while Apple shot higher before giving back much of its gains after disappointing earnings. Long-term borrowing costs also surged during the week as Treasury yields rose. Jeff DeGraaf of Renaissance Macro Research cautioned that "dashes of that size have historically been the property of a downtrend, not the starting gun for a fresh race." This article is for informational purposes only and does not constitute investment advice.