Chevron’s latest quarterly update showed solid operational momentum, with fourth-quarter 2025 earnings of $2.8 billion and adjusted earnings of $3.0 billion, supported by cash flow from operations of $10.8 billion and adjusted free cash flow of $4.2 billion. The company lifted 2025 production to record highs, with global output up 12% and U.S. volumes 16% higher, and reported a robust 158% reserve replacement ratio, underscoring long-term resource sustainability. Against this backdrop of stronger upstream performance and an announced 4% increase in its quarterly dividend, investor attention is likely to focus on how sustained strength in crude and gas benchmarks such as Oil – US Crude, Oil – Brent Crude, and Natural Gas could influence Chevron’s future cash generation and capital allocation.
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Over the past month, price momentum has been favorable across key energy benchmarks: US crude futures (CM:CL) have advanced about 10.8%, Brent has gained roughly 11.6%, and natural gas has rallied more than 23.4%, moves that typically reflect a mix of supply discipline from producers, resilient demand, and shifting geopolitical or weather-related risk premiums. From a shorter-term perspective, 1-day technical analysis signals currently point to a bullish bias in all three contracts, with CM:CL flashing a Buy signal, CM:BZ also showing Buy, and CM:NG registering a Buy. These aligned positive readings suggest near-term upward momentum remains intact, which, if sustained, could further support earnings and cash flows for integrated producers. Investors can explore more updates, prices, and analysis across global markets at Commodities.