Chevron Corp. (NYSE:CVX) shares are trading higher during Monday’s premarket session after U.S.-Iran nuclear negotiations ended without agreement in Islamabad on Sunday after 21 hours of marathon discussions.

The development raised fears of potential disruptions to global crude supply through the key shipping route, lifting energy stocks amid expectations of tighter oil market conditions.

As of early today, West Texas Intermediate (WTI) crude oil price surged 7.69% to $104, and Brent crude oil price increased 7.02% to $101.88.

Marathon Talks Fail To Secure Deal

Vice President JD Vance said that American negotiators were leaving Pakistan after failing to secure a deal with Iran, stressing that Washington would not compromise on its core demands.

Vance said the U.S. requires “an affirmative commitment that they will not seek a nuclear weapon,” adding that Iran must not pursue “the tools that would enable them to quickly achieve a nuclear weapon.”

Iran blamed “excessive” demands from the U.S. for the talks collapsing, according to a report by the country’s semi-official Tasnim news agency.

Chevron Q1 Earnings Will Be ‘Noisy’ 

Chevron is scheduled to release its first-quarter 2026 earnings on Friday, May 1, 2026, before the market opens. 

JPMorgan analyst Arun Jayaram expects the restoration of the company’s “key upstream and downstream profit drivers” is likely to provide “a strong foundation for earnings growth” over the remainder of the year, backed by elevated commodity prices and refining margins.

The war in Iran is likely to affect Chevron far less than its peers, he added. But it’s worth noting that major oil producers, like Chevron, are facing significant disruptions that offset potential gains. According to Bloomberg, Chevron lost about 6% of global production in the first quarter. 

CVX Technical Levels: Key Support and Resistance to Watch

At $192.18, Chevron is trading 4.3% below its 20-day simple moving average (SMA) of $200.78, indicating short-term weakness. However, it is 0.7% above its 50-day SMA of $190.82, suggesting some stability in the intermediate term.

The stock has performed well over the past year, with a 12-month return of 39.34%, reflecting strong long-term momentum. Currently, it is positioned near its 52-week high of $214.71, which suggests bullish sentiment among investors.

  • Key Resistance: $214.50 — This level has historically been a barrier for upward movement.
  • Key Support: $182.00 — This level has previously acted as a safety net for the stock.

Top ETF Exposure

  • iShares Texas Equity ETF (NASDAQ:TEXN): 6.88% Weight
  • iShares Core High Dividend ETF (NYSE:HDV): 7.60% Weight
  • First Trust Morningstar Dividend Leaders Index Fund (NYSE:FDL): 9.39% Weight

Significance: Because CVX carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

CVX Stock Price Activity: Chevron shares were up 1.86% at $192.05 during premarket trading on Monday, according to Benzinga Pro data.

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