Oil prices edge higher as supply crunch deepens, Fluor shares tumble on earnings miss
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Oil prices are rising due to a supply crunch caused by refinery attacks and tensions in the Middle East, with Brent crude nearing $111 per barrel. In contrast, Fluor's shares fell sharply after the company reported Q1 adjusted EPS of $0.14, missing estimates by over 78% and revenue below forecasts. The market outlook is mixed, with oil prices under upward pressure from supply losses, while Fluor's success depends on converting its $100B+ project pipeline into profitable contracts.
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