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May 28, 2026 4:00 PM

Chevron Highlights Stronger Coal Consumption Outlook

Chevron Corporation (NYSE:CVX) shares are trading higher on Thursday as energy stocks grind higher in a broadly risk-on tape.

At the Bernstein Strategic Decisions Conference, Chevron CEO Mike Wirth said supplying gas-fired power to data centers could emerge as a meaningful growth opportunity within the company's portfolio.

He added that rebuilding damaged energy infrastructure in the Middle East could require tens of billions of dollars in repair costs.

He also indicated that coal consumption is likely to remain stronger than previously expected going forward.

Oil, Gas Prices

According to data collected by the American Automobile Association (AAA), the national average gas price fell to $4.491/gallon. California commanded the highest price for gas, with the average gasoline price in the state at $6.109/gallon.

Diesel's national average cost was $5.584/gallon in the U.S., the AAA data showed, with California diesel prices hitting $7.377/gallon in the state, according to the same data.

Crude oil prices fell with the West Texas Intermediate (WTI) crude at $91.97/bbl at press time, down 2.04%. On the other hand, Brent crude was also down 1.59% to $98/barrel. The United States Oil Fund (NYSE:

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