INPEX and Japan Petroleum Exploration climb as crude prices surge amid escalating Iran tensions◇
Shares of INPEX <1605> and Japan Petroleum Exploration <1662> are trading higher. U.S. crude oil futures advanced on the 6th, with West Texas Intermediate (WTI) for May delivery rising $0.87 from the April 2nd close to settle at $112.41 per barrel. This marked the highest closing price in nearly four years, since mid-June 2022.
At a press conference on the 6th, U.S. President Trump characterized negotiations with Iran as "progressing smoothly," while concurrently warning of severe military strikes on infrastructure should Iran fail to comply. Meanwhile, reports indicated that Iran has rejected the latest ceasefire proposal. With the market’s attention fixed on the negotiation deadline at 9:00 a.m. Japan time on the 8th (8:00 p.m. ET on the 7th), crude oil prices remain elevated. As of 10:00 a.m. Japan time on the 7th, prices were hovering in the $113 range in after-hours trading, supporting a firm trading tone for both companies.
(Note) The "◇" symbol at the end of a title indicates an article referencing multiple securities.
Source：MINKABU PRESS
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