New York, February 15, 2026, 15:16 EST — Market closed
- Chevron climbed 0.7% Friday, finishing at $183.74.
- Bangchak is set to buy Chevron’s Hong Kong fuel operations in a deal worth $270 million.
- U.S. stock markets take a break for Presidents Day on Monday, with trading picking back up Tuesday.
Chevron finished Friday at $183.74, up 0.7%, after news broke that Thailand’s Bangchak was snapping up the company’s Hong Kong fuel unit for $270 million. Shares moved between $181.72 and $184.84 during the session, with volume around 9 million.
Timing plays a role here. Energy names have been among the rare steady performers in the U.S. market this year, with Chevron still seen as a stand-in for crude moves and refining spreads. On Friday, the S&P 500 Energy sector added 0.55%, bringing its year-to-date climb to 21.32%.
Oil grabbed the spotlight again. Brent finished up at $67.75 a barrel, with U.S. West Texas Intermediate (WTI) closing at $62.89—both ticking higher for the day, though still down for the week. “Looks like inflation is stabilizing,” Dennis Kissler, senior vice president of trading at BOK Financial, noted, but he also pointed to the chance of extra OPEC+ barrels hitting the market. Reuters
Bangchak has inked a share purchase deal with Chevron Companies (Greater China) Limited, snapping up all of Chevron Hong Kong Limited, the company said in a statement. CEO Chaiwat Kovavisarach described the move as “not only an expansion” but also “a strategic step.” The acquired business operates 31 service stations, which are set to continue under the Caltex name through a licensing arrangement with Chevron. Bangchak Corporation
Oil majors are back in the policy spotlight. According to Reuters, the U.S. Treasury’s OFAC handed out general licenses to Chevron and peers like BP, Eni, Shell, and Repsol, green-lighting their oil and gas projects in Venezuela. A spokesperson for Chevron called the move “important steps toward enabling the further development” of resources in the country. Reuters
Wall Street takes a break Monday for Washington’s Birthday, so investors won’t get their next clear look at Chevron or the wider sector until trading resumes Tuesday. According to the NYSE’s 2026 calendar, February 16 is marked as a holiday.
Still, there are counterweights here. Chevron’s Hong Kong move isn’t huge by its standards, and oil names can pivot hard if crude prices react to new supply or macro jolts. OPEC+ production chatter and U.S. sanctions headlines usually flash across screens and whip prices around in a hurry.
Oil traders are now watching for the U.S. Energy Information Administration’s weekly petroleum status report, set for release on February 19, following the previous report from February 11.
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