iShares U.S. Energy ETF

Poland intercepted and shot down Russian drones in its airspace, marking the first direct military engagement between a NATO member and Russian assets since the Ukraine conflict began. The incident led to airport closures and heightened tensions, with potential implications for defense and energy markets.

Phillips 66 will purchase Cenovus Energy's 50% stake in WRB Refining LP for $1.4 billion, gaining full ownership of two U.S. refineries with a combined processing capacity of 495,000 barrels per day.

Crescent Energy will acquire Vital Energy in an all-stock merger valued at $3.1 billion, creating one of the largest U.S. independent oil and gas producers. The deal offers Vital shareholders a 15% premium and is expected to close by year-end 2025, with projected annual savings of $90-100 million.

Cenovus Energy will acquire MEG Energy for $7.9 billion in a cash-and-stock deal, creating a major player in Canada's oil sands sector with over 720,000 barrels per day of production and projected $400 million in annual synergies by 2028.

Oil prices fell 1% amid geopolitical and economic uncertainties, impacting energy ETFs. Diversified, exploration and production, and midstream ETFs may be affected differently based on factors like sanctions, tariffs, and OPEC+ output plans.