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ConocoPhillips (COP) BMO CDR (CAD Hedged)
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Close 2026-07-07 C$ 12.15
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Globe/AP say Chevron, others told U.S. hits Iran again

2026-07-08 07:35 ET - In the News

See In the News (C-CHEV) Chevron CDR (CAD Hedged)

The Globe and Mail reports in its Wednesday edition that the U.S. military unleashed a new wave of strikes against Iran on Tuesday and revoked a licence allowing the country to sell oil after three tankers were hit in the Strait of Hormuz, putting pressure on an already fragile ceasefire. An Associated Press dispatch to The Globe says that after a day in which huge crowds mourned Iran's slain Supreme Leader Ayatollah Ali Khamenei in the holy city of Qom, U.S. Central Command announced that it had begun a series of strikes intended to impose what it called heavy costs. "Iran's demonstrated aggression was unwarranted, dangerous, and a clear violation of the ceasefire," Centcom said on X. In a potentially major blow to that agreement, Washington moved on Tuesday to withdraw a key concession that had allowed Iran to sell oil on international markets. Oil prices rose more than 3 per cent. A U.S. official said earlier negotiators continued to work in good faith toward a final agreement with Iran. Control of the strait has given Tehran immense leverage, effectively allowing it to force a stalemate with the world's most powerful military. In revoking that licence, the U.S. gave Iran until July 17 to wind down any transactions.

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