What Happened?
Shares of oil and gas producer Murphy Oil (NYSE: MUR) jumped 4.5% in the afternoon session after the broader energy sector rallied amid rising crude oil prices, driven by significant geopolitical tensions in the Middle East.
The conflict in Iran led to severe disruptions in the energy markets, with ship traffic nearly stopping in the Strait of Hormuz, a key channel for about 20% of the world's oil. This situation caused oil prices to swing wildly and trend higher, which generally benefits oil producers. In response to the market turmoil, the International Energy Agency (IEA) announced a historic, coordinated release of oil from its members' emergency reserves.
After the initial pop the shares cooled down to $33.69, up 3.3% from previous close.
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What Is The Market Telling Us
Murphy Oil’s shares are very volatile and have had 23 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 23 hours ago when the stock dropped 2.5% on the news that a sharp retreat in crude oil and natural gas prices amid shifting geopolitical expectations weakened sentiment.
WTI crude futures plunged over 10% to around $84 per barrel, a steep reversal from the nearly $120 seen in the previous session. The sell-off was triggered by multiple factors, including comments from President Trump suggesting the war with Iran could be brief. Additionally, global leaders are signaling a readiness to intervene to stabilize energy markets. The International Energy Agency (IEA), an organization that works to ensure reliable, affordable, and clean energy, has convened a meeting to assess the situation, with G7 nations requesting preparations for a potential release of emergency oil reserves. Meanwhile, natural gas prices also declined, with the U.S. Energy Information Administration lowering its price forecast due to strong domestic production and mild weather, which are expected to insulate the U.S. market from the conflict's impact.
Murphy Oil is up 3.7% since the beginning of the year, and at $33.69 per share, it is trading close to its 52-week high of $34.87 from March 2026. Investors who bought $1,000 worth of Murphy Oil’s shares 5 years ago would now be looking at an investment worth $1,693.
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