Why Is Chevron Stock Surging on Thursday?

Chevron Announces It has Shut-In Production At Five Of Its Gulf Of America Sites Due To Hurricane Isaias

https://www.chevron.com/newsroom/2026/q4/october-2026-severe-weather-updates

Stock Market Today: S&P 500 Slips as Oil Spikes 5%, 10-Year Yields Near 5.35%

Stocks slip as Gulf tanker attacks lift Brent above $105 and the 10-year yield nears 5.35%; small caps lag while energy and Chipotle rally.

QUICK SPARK: Trump Says US Will Not Attack Iran Before Midterm Election

President Donald Trump rules out U.S. military action against Iran before the Nov. 3 midterm elections.

Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit. Here's What It Means for CVX Stock.

Chevron is divesting its ownership stake in Hess Midstream and DJ Basin crude oil midstream assets in exchange for reduced tariff rates on midstream services in the Bakken through 2045. While the deal results in a $3-4 billion one-time after-tax loss, it will reduce Chevron's Bakken midstream costs by 50% and simplify its balance sheet by removing $3.7 billion in debt. Hess Midstream gains independence and diversification as a multi-basin operator, with the deal being accretive to both companies' shareholders long-term.

Hess Midstream shares are trading lower after Chevron announced that it will fully deconsolidate its stake in the company, including approximately $3.7 billion of its debt.

Chevron Swaps Hess Midstream Stake for 50% Lower Bakken Costs — and a $200 Million Payment

Chevron deals DJ Basin assets and Hess Midstream stake to slash Bakken midstream costs by 50% and optimize return on capital.