INPEX CORPORATION and Japan Petroleum Exploration Co., Ltd. buck market decline as WTI crude surges above $92 in off-hours trading
INPEX CORPORATION <1605> and Japan Petroleum Exploration Co., Ltd. <1662> shares bucked the broader market decline Thursday, buoyed by surging crude oil prices amid escalating geopolitical tensions in the Middle East.
The July West Texas Intermediate (WTI) futures contract climbed to the 92.00-dollar-per-barrel mark during Thursday morning's Asian trading. The settlement price Wednesday stood at 90.03 dollars per barrel, up 1.83 dollars from Tuesday's close.
U.S. President Donald Trump declared Wednesday that he would strike Iran "very hard" after a U.S. military helicopter was downed, with U.S. forces subsequently launching new strikes inside Iran. As hopes for peace negotiations faded, crude oil prices extended gains in electronic trading Thursday.
The geopolitical friction fueled buying interest in energy-related shares, drawing investors into both INPEX and Japan Petroleum Exploration.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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