INPEX erases early gains despite WTI crude briefly rising above $92
Shares of INPEX CORPORATION <1605> gave up early gains as the broader market fell, despite surging crude oil prices.
October West Texas Intermediate (WTI) crude futures rose briefly to around $92.30 a barrel in Tokyo trading on the 2nd. The contract's settlement price on the 1st - equivalent to the closing price - jumped $4.46 to $90.22, its highest level since late July.
U.S. Central Command posted on social media on the 1st that it launched attacks against Iran's Islamic Revolutionary Guard Corps. Reports also emerged of retaliatory strikes by Iran against U.S. military bases.
While crude oil prices have trended higher amid escalating retaliatory strikes between the U.S. and Iran, INPEX shares fell for the first time in five sessions as investors locked in profits following a recent rally.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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