According to The Kobeissi Letter, oil prices are rapidly approaching $60 per barrel following President Trump's announcement that any country purchasing oil from Iran will face U.S. sanctions and will not be permitted to conduct business with the United States (Source: The Kobeissi Letter, Twitter, May 1, 2025). This policy escalation has led to immediate bullish momentum in the oil markets, increasing volatility and tightening global supply outlooks. Traders are advised to monitor crude oil futures and related energy sector stocks for potential breakout opportunities, as geopolitical risk premiums are likely to sustain upward price pressure in the near term.

According to @BreitbartNews, Chevron has announced the commencement of its new Ballymore subsea tieback project in the Gulf of America. The project is expected to boost oil production significantly, with an estimated output of over 75,000 gross barrels of oil daily. This development could have a substantial impact on oil prices and market dynamics, presenting potential trading opportunities for investors interested in energy stocks. The announcement underscores Chevron's strategic focus on increasing production capacity and enhancing its portfolio in the Gulf region.