Sweet 16 companies most heavily weighted to oil

[dan_s]

Matador Resources (MTDR)
Permian Resources (PR)
Diamondback Energy (FANG)
SM Energy (SM)
Crescent Energy (CRGY)

SM and CRGY are "Special Situations" because they have recently closed strategic mergers that will look very attractive to investors if WTI does stay over $70/bbl. WTI will pull back if the war with Iran ends quickly, but as of this morning, it looks like it will take at least several weeks.

General Dan Caine, the chairman of the Joint Chiefs of Staff, did not specify a timeline, but said, "This is not a single overnight operation. The military objectives … will take some time to achieve.”

Four U.S. service members have died. Defense Secretary Pete Hegseth told reporters that occurred when Iran hit a tactical operations center that had been fortified. Sources told ABC News that President Donald Trump had been warned ahead of the operation that U.S. casualties were very possible in an operation of this scale.

“We expect to take additional losses,” Caine warned, “and as always, we will work to minimize U.S. losses. But as the secretary said, this is major combat operations.” He also said there were more than 1,000 targets hit in the first 24 hours.

Hegseth also noted that “an effort of this scope will include casualties.”

“War is hell and always will be. A grateful nation honors the four Americans we have lost thus far and those injured,” he said.

Hegseth did not rule out troops on the ground.

Caine said that additional American forces, specifically tactical aviation, are headed into the region.

'Clear, devastating, decisive mission' Defense Secretary Pete Hegseth said “the mission of Operation Epic Fury is laser-focused: destroy Iranian offensive missiles, destroy Iranian missile production, destroy their Navy and other security infrastructure, and they will never have nuclear weapons.”

Bottomline: If this drags on it will reduce Iran's oil sales. It could reduce them significantly.