Update: Iperionx Shares Rise After $18.5 Million US Army Titanium Contract

MT newswire2026/08/31 18:59

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02:59 PM EDT, 08/31/2026 (MT Newswires) -- (Updates to add recent stock movement in the headline and the first paragraph.) IperionX (IPX) shares rise 4.8% after it said the US Army awarded it a second task order under an existing $99 million contract to develop low-cost, domestic titanium for defense applications. The new task order has an $18.5 million base value, with $11.5 million currently funded. Options could raise the total value to $25.4 million, the company said. IperionX said the funding will support equipment and manufacturing systems at its Virginia facility to expand production of titanium components such as track pins, bolts and fasteners for the US defense sector. Price: 21.97, Change: +0.96, Percent Change: +4.57

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41