Oil prices slipped on Tuesday, extending falls from the two previous sessions, as pressure from plans by OPEC to boost output offset optimism over a potential U.S.-China trade deal.
Feifei Cui-paoluzzo | Moment | Getty Images
OPEC+ has agreed in principle to keep its planned pause on oil output increases for March when it meets later on Sunday, according to three delegates and a draft statement seen by Reuters, even after crude prices hit six-month highs on concern the U.S. could launch a military strike on OPEC member Iran.
The meeting of eight OPEC+ members comes as Brent crude closed near $70 a barrel on Friday, close to the six-month high of $71.89 reached on Thursday, despite speculation that a supply glut in 2026 would push prices down.
The eight producers — Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman — raised production quotas by about 2.9 million barrels per day from April through December 2025, roughly 3% of global demand.
They then froze further planned increases for January through March 2026 because of seasonally weaker consumption.
On Friday, oil prices dipped amid tensions between the U.S. and Iran.
Brent crude futures settled at $70.69 a barrel, down 2 cents or 0.03%. The March contract expired on Friday. U.S. West Texas Intermediate crude finished at $65.21 a barrel, down 21 cents or 0.32%.
Sunday’s meeting is now due to start at 1400 GMT, two sources said. It is not expected to take any decisions for output policy beyond March, sources said on Friday.
OPEC+ includes the Organization of the Petroleum Exporting Countries, plus Russia and other allies. The full OPEC+ pumps about half of the world’s oil.
A separate OPEC+ panel called the Joint Ministerial Monitoring Committee is also scheduled to meet on Sunday once the eight-country meeting has concluded, delegates said. The JMMC does not have decision-making authority on production policy.
The JMMC panel will stress the importance of achieving full compliance with OPEC+ output agreements, a second draft statement seen by Reuters showed.
U.S. President Donald Trump is weighing options on Iran that include targeted strikes against security forces and leaders, aiming to inspire protesters, multiple sources said on Thursday.
Washington has imposed extensive sanctions on Tehran to choke off its oil revenue, a crucial source of state funding.
Both the U.S. and Iran have since signalled willingness to engage in dialogue, but Tehran on Friday said its defence capabilities should not be included in any talks.
Oil prices have also been supported by supply losses in Kazakhstan, where the oil sector has suffered a series of disruptions in recent months. Kazakhstan said on Wednesday it was restarting the huge Tengiz oilfield in stages.
The eight countries plan to hold their next meeting on March 1 and the JMMC on April 5, the draft statements showed.
French IT company Capgemini will sell its U.S. subsidiary Capgemini Government Solutions, it said on Sunday, after coming under pressure to explain a contract the latter signed with U.S immigration enforcement agency ICE.
French lawmakers, including Finance Minister Roland Lescure, had asked the company to shed light on the contract amid concern over the tactics used by ICE agents following the fatal shooting of two U.S. citizens in Minnesota last month.
“Capgemini considered that the usual legal constraints imposed in the United States on contracting with federal entities conducting classified activities did not allow the Group to exercise appropriate control over certain aspects of this subsidiary’s operations in order to ensure alignment with the Group’s objectives,” it said in a statement.
CapGemini said the process of divestment would be “initiated immediately” but did not say whether the sale was due to CGS’ contract with ICE.
CGS accounts for 0.4% of Capgemini’s estimated revenue in 2025 and less than 2% of its revenue in the United States, the group said.
Capgemini CEO Aiman Ezzat had said last week that the company had recently become aware of the nature of a contract awarded to CGS by the U.S. Department of Homeland Security’s Immigration and Customs Enforcement in December 2025.
However, Capgemini did not have access to any classified information, classified contracts, or anything relating to the technical operations of CGS, as required by U.S. security regulations related to government contracts, he said.
He added that the company would review the content and scope of this contract and CGS’ contracting procedures.
Iran is now enduring the country’s longest and most comprehensive internet disruption on record. Its impact has stretched far beyond blocked platforms and loading screens, pushing many businesses to a point of no return.
Economists estimate Iran’s digital economy generates roughly 30 trillion rials (about $42 million) a day. While modest on paper, that figure represents the livelihoods of small and medium-sized enterprises that operate almost entirely online.
The Tehran Chamber of Commerce estimates that at least 500,000 Instagram-based shops operate in Iran, supporting around one million jobs whose sales effectively drop to zero without internet access.
The collapse began when the signal died
Industry data reviewed by trade groups show daily losses running into billions of rials, with the Chamber reporting revenue declines of 50% to 90%. But some analysts say even those figures understate the damage.
“Where does this figure even come from?” IT expert Amin Sabeti told Iran International. “These businesses operate on Instagram. When people have no access to Instagram, one hundred percent of their sales are gone.”
Sabeti said the lack of precise data had itself become part of the crisis. “What we do know is that Instagram and WhatsApp are widely used by small businesses, and many have now lost customers completely,” he added. “For some people, their entire livelihood depended on these platforms.”
In Iran, platforms such as Instagram, Telegram and WhatsApp function not only as messaging tools but as storefronts, marketing channels and payment gateways.
Analysts estimate more than 40 million active users rely on them, making social media the backbone of e-commerce, especially for home-based businesses, informal retailers and women-led ventures.
“In many cases, people have gone bankrupt because they had issued cheques that can no longer be covered,” Sabeti said. “The reality is that a large portion of online businesses that relied heavily on Instagram have been wiped out.”
One Tehran-based online clothing seller told the news site Dideban Iran that her sales collapsed. After just one week of disruption, she laid off all her workers, shut down her workshop and sold her sewing machines. “I’m bankrupt,” she said.
Another online seller said most digital businesses lack the reserves to survive even days without revenue. “When the internet goes,” the seller said, “whatever tiny capital we have disappears.”
Silence from businesses
Iran International contacted several large and small online businesses to ask about the impact of the blackout. None replied. Messages were not even seen — an absence that spoke louder than any quote.
A few voices surfaced briefly on X. One user wrote that a friend who teaches languages online could no longer earn enough to cover monthly expenses. “Online business is not just online shops,” the post said. “Thousands of jobs depend on the internet, and they’ve been destroyed.”
Another described producers already weakened by months of economic pressure. “In our industrial area, someone with 15 years of production experience is renting out his workshop as a spare-parts warehouse,” the post read. “Last year we had 13 workers. Now we have three.”
Economists warn the damage will outlast restored connections. Prolonged shutdowns erode trust, deter investment and stall technological development. Many business owners say they have lost not only their capital but the will and the means to start again.
Women, who make up a significant share of Iran’s home-based digital workforce, are among the most exposed. For many, online trade was the only viable entry into the economy. With that channel severed, unemployment follows quietly.
“If this situation continues, it can really push the digital economy toward destruction,” said Reza Olfatnasab, head of the union of virtual businesses.
Numbers collide, blame follows
As businesses slipped into silence, the argument over numbers intensified.
Communications Minister Sattar Hashemi said recent outages were inflicting about 5,000 billion rials a day in direct losses on the core digital economy and nearly 50 trillion rials across the wider economy. Around 10 million people depend directly or indirectly on the sector, he said, adding that the average resilience of internet-based businesses is just 20 days.
The hardline daily Kayhan dismissed those estimates as “fabricated figures,” accusing the communications ministry of deflecting responsibility and arguing that officials who failed to build a “secure and lawful” network should be held accountable.
Industry bodies offered competing assessments. Analysts say the gap exposes a deeper problem than the shutdown itself: Iran lacks any transparent, standardized system to measure its digital economy.
For many business owners, however, the debate over billions has already arrived too late. Their screens are dark, their messages unread and their income, whatever the final number, already gone.
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If you are wondering whether Banco Bilbao Vizcaya Argentaria’s recent share price puts it at a premium or still leaves room for value, this article walks through what the numbers say about the stock.
The shares recently closed at €21.45, with returns of 1.8% over the last 7 days, 5.3% over the last 30 days, 5.3% year to date, 103.3% over 1 year and a very large gain over 5 years that is more than 5x.
Recent coverage of Banco Bilbao Vizcaya Argentaria has focused on its role in the European banking sector and on how investors are treating large banks in the region in light of changing interest rate expectations. This broader backdrop helps frame why some investors are reassessing both risk and potential upside in established lenders like BBVA.
On Simply Wall St’s 6 point valuation checklist, Banco Bilbao Vizcaya Argentaria currently scores 3 out of 6. Next, we will look at what traditional valuation methods say about that score, before finishing with a more comprehensive way to think about the company’s value.
Find out why Banco Bilbao Vizcaya Argentaria’s 103.3% return over the last year is lagging behind its peers.
The Excess Returns model looks at how much profit a bank generates over and above the return that shareholders typically require. Instead of focusing on cash flows, it starts with book value and earnings power, then measures how efficiently equity is being used.
For Banco Bilbao Vizcaya Argentaria, the model uses a Book Value of €10.02 per share and a Stable EPS of €2.19 per share, based on weighted future Return on Equity estimates from 17 analysts. The Average Return on Equity is 19.50%, compared with a Cost of Equity of €1.02 per share, which results in an Excess Return of €1.18 per share. The Stable Book Value used in the model is €11.25 per share, based on estimates from 12 analysts.
Using these inputs, the Excess Returns valuation points to an intrinsic value of about €28.95 per share. Relative to the recent share price of €21.45, this suggests the stock is 25.9% undervalued according to this framework.
Result: UNDERVALUED
Our Excess Returns analysis suggests Banco Bilbao Vizcaya Argentaria is undervalued by 25.9%. Track this in your watchlist or portfolio, or discover 875 more undervalued stocks based on cash flows.
Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Banco Bilbao Vizcaya Argentaria.
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Without a specific headline event driving attention today, ARMOUR Residential REIT (ARR) is on investors’ radar because of its recent price moves and its role as a mortgage focused real estate investment trust.
The stock’s recent returns include a 5.3% decline over the past week, a 3.8% decline over the past month, and a 6.5% gain over the past 3 months, with shares last closing at US$17.40. Over the past year, the total return stands at 10.0%. The past 3 years show total returns of 8.1%, and the past 5 years show a 33.8% decline.
ARMOUR Residential REIT invests primarily in US agency residential mortgage backed securities, including fixed rate, hybrid adjustable rate, and adjustable rate home loans, along with unsecured notes and bonds from government sponsored entities and US Treasuries. It has elected REIT tax status, which means it is not subject to corporate income tax on qualifying income that is distributed to shareholders.
See our latest analysis for ARMOUR Residential REIT.
Putting it all together, ARMOUR Residential REIT’s recent 1 month share price return of 3.8% decline and 3 month gain of 6.5% contrast with a 5 year total shareholder return of 33.8% decline. This points to short term momentum improving off a weak longer term base.
If moves in mortgage focused REITs have your attention, this can be a good moment to broaden your search and check out fast growing stocks with high insider ownership for other ideas on Simply Wall St.
With ARMOUR Residential REIT’s mixed recent returns, rapid revenue and net income growth, and a share price close to the US$18.63 analyst target, you have to ask: is there hidden value here, or is the market already pricing in future growth?
ARMOUR Residential REIT’s most followed narrative suggests a fair value of $17.00, slightly below the last close of $17.40, which implies only a small valuation gap.
Federal Reserve easing and a potential shift toward using SOFR or similar repo based measures as a policy benchmark are expected to lower funding costs and reduce rate volatility, supporting wider economic net interest margins and more stable distributable earnings.
Read the complete narrative.
Analysts are not just talking about interest rates. They are incorporating powerful revenue growth, expanding margins and a very low future earnings multiple. Curious what that combination implies for 2028?
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If you are wondering whether TE Connectivity’s current share price reflects its true worth, this article walks through the key numbers that matter for valuation.
TE Connectivity’s share price closed at US$222.78, with returns of a 0.5% decline over 7 days, a 4.5% decline over 30 days, a 4.5% decline year to date, but a 52.9% gain over 1 year, 75.0% over 3 years, and 88.6% over 5 years, which may lead some investors to reassess both upside potential and risk.
Recent coverage has focused on TE Connectivity as a key supplier of connectivity and sensor solutions for sectors such as automotive, industrial equipment, and communications. This helps frame how investors think about its long term demand. News flow has also highlighted how the company is positioned within broader themes like vehicle electrification and factory automation, both of which often influence sentiment around its long term earnings potential.
Our valuation model currently gives TE Connectivity a score of 2 out of 6, based on how many checks suggest the stock looks undervalued. Next we will walk through the main valuation approaches before finishing with a more complete way to think about the company’s value.
TE Connectivity scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.
A Discounted Cash Flow, or DCF, model estimates what a company could be worth by projecting its future cash flows and then discounting those back to today using a required rate of return. It tries to answer what those future dollars are worth in present terms.
For TE Connectivity, the model used is a 2 Stage Free Cash Flow to Equity approach based on cash flow projections. The latest twelve month Free Cash Flow is about $3.25b, and analysts plus extrapolated estimates point to Free Cash Flow of $3.73b by 2030, with intermediate projections between 2026 and 2035 ranging roughly from $3.32b to $3.97b before discounting. Simply Wall St extrapolates beyond the explicit analyst horizon to build a 10 year path of cash flows in dollars.
After discounting these projected cash flows, the model arrives at an estimated intrinsic value of about $178.15 per share, compared with the recent share price of $222.78. That implies the stock screens as roughly 25.1% overvalued on this DCF view.
Result: OVERVALUED
Our Discounted Cash Flow (DCF) analysis suggests TE Connectivity may be overvalued by 25.1%. Discover 875 undervalued stocks or create your own screener to find better value opportunities.
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If you are wondering whether Air France-KLM is attractively priced or not, this article walks through what the current market price might be implying about the stock.
The shares recently closed at €10.81, with returns of 1.2% over the last 7 days, an 11.9% decline over the last 30 days, and a 35.1% gain over the last year. This is set against longer term 3-year and 5-year returns of 31.9% and 57.3% declines respectively.
Recent coverage around Air France-KLM has focused on its position as a major European flag carrier and the ongoing attention investors pay to airlines as travel patterns evolve. This backdrop helps frame why the share price has seen both shorter term weakness and stronger 1-year returns, as the market reassesses risk and potential.
Simply Wall St currently gives Air France-KLM a valuation score of 5/6. We will unpack this using several common valuation approaches, before finishing with a broader way to think about what valuation really means for your own portfolio.
Air France-KLM delivered 35.1% returns over the last year. See how this stacks up to the rest of the Airlines industry.
A Discounted Cash Flow model projects a company’s future cash flows and then discounts them back to today’s value to estimate what the entire business might be worth per share.
For Air France-KLM, the model used is a 2 Stage Free Cash Flow to Equity approach, based on cash flows in €. The latest twelve month free cash flow is about €951.8 million. Analysts provide specific free cash flow estimates for the next few years, and from there Simply Wall St extrapolates projections, including an estimate of €1,523 million in free cash flow for 2029 and further values out to 2035.
Bringing all of those projected cash flows back to today using a discount rate gives an estimated intrinsic value of €55.49 per share. Compared with the recent share price of €10.81, the model implies the stock is about 80.5% undervalued based on these cash flow assumptions.
Result: UNDERVALUED
Our Discounted Cash Flow (DCF) analysis suggests Air France-KLM is undervalued by 80.5%. Track this in your watchlist or portfolio, or discover 874 more undervalued stocks based on cash flows.
Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Air France-KLM.
For a company that is generating profits, the P/E ratio is a straightforward way to see what you are paying for each euro of earnings. It ties directly to the bottom line, which many investors focus on when they compare opportunities.
