Daily Morning Brief

Chevron is nearing deals to invest billions in rebuilding Venezuela's oil fields, potentially adding two heavy-oil operations. Halliburton is also in talks to supply equipment to local producers.

Solstice Advanced Materials and Element Solutions mutually terminated their $14.5 billion acquisition after shareholder feedback. Both firms will operate independently despite the deal's aim to boost exposure to electronics and nuclear fuel sectors.

Moderna and Merck announced a breakthrough in mRNA cancer vaccine collaboration, marking the first late-stage success after over a century of failures. The vaccine showed efficacy in melanoma patients, paving the way for FDA review and billions in sales.

Geopolitical tensions from the Iran war have increased fuel costs, prompting major transport firms like Union Pacific and Maersk to raise surcharges that exceed expenses, boosting profits amid supply chain inflation concerns.

QatarEnergy extended force majeure on LNG deliveries to Italian utility Edison until November, canceling five additional cargoes due to U.S.-Iran conflict disruptions. Total canceled shipments now reach 29, affecting a contract supplying 10% of Italy's annual gas consumption.