{"id":62900,"date":"2026-06-09T17:08:19","date_gmt":"2026-06-09T21:08:19","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/"},"modified":"2026-06-09T17:08:19","modified_gmt":"2026-06-09T21:08:19","slug":"3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/","title":{"rendered":"3M Faces Rating Downgrade Amid Legal Woes; Oil Stocks Plunge as Hormuz Tensions Escalate"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/#3M_Under_Pressure_from_%22Forever_Chemical%22_Liabilities\" >3M Under Pressure from &quot;Forever Chemical&quot; Liabilities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/#Energy_Markets_React_to_Massive_Inventory_Draw\" >Energy Markets React to Massive Inventory Draw<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/#Middle_East_Tensions_Escalate_After_Helicopter_Crash\" >Middle East Tensions Escalate After Helicopter Crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/#Aviation_Western_Sydney_Airport_Sets_Launch_Dates\" >Aviation: Western Sydney Airport Sets Launch Dates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/3m-faces-rating-downgrade-amid-legal-woes-oil-stocks-plunge-as-hormuz-tensions-escalate\/62900\/#Personnel_Shifts_in_US_AI_Policy\" >Personnel Shifts in US AI Policy<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Bernstein<\/strong> initiated coverage of <strong>3M (<a href=\"\/stock\/MMM\">MMM<\/a>)<\/strong> with an <strong>Underperform<\/strong> rating and a <strong>$131 price target<\/strong>, warning that the market is underestimating the company&#39;s multi-billion dollar <strong>PFAS-related liabilities<\/strong>.<\/li>\n<li><strong>US API <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">Crude Oil<\/a> Stocks<\/strong> saw a massive draw of <strong>-9.119 million barrels<\/strong>, significantly exceeding the forecasted draw of <strong>-3.4 million barrels<\/strong>, as the <strong>Strait of Hormuz<\/strong> remains effectively closed.<\/li>\n<li><strong>Geopolitical tensions<\/strong> spiked as <strong>President Donald Trump<\/strong> blamed <strong>Iran<\/strong> for the downing of a <strong>US Army Apache helicopter<\/strong>, prompting a warning of a &quot;decisive response&quot; from Tehran.<\/li>\n<li><strong>Western Sydney International Airport (WSI)<\/strong> finalized a five-year agreement with <strong>Qantas (<a href=\"\/stock\/QAN\">QAN<\/a>)<\/strong> and <strong>Jetstar<\/strong>, with the first commercial passenger flights scheduled for <strong>October 25, 2026<\/strong>.<\/li>\n<li><strong>White House AI Policy Adviser Thomas Lind<\/strong> is departing the administration, marking another high-profile exit from the <strong>Trump administration&#39;s<\/strong> tech policy team.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"3M_Under_Pressure_from_%22Forever_Chemical%22_Liabilities\"><\/span>3M Under Pressure from &quot;Forever Chemical&quot; Liabilities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Bernstein<\/strong> analysts have signaled caution on <strong>3M (<a href=\"\/stock\/MMM\">MMM<\/a>)<\/strong>, initiating coverage with an <strong>Underperform<\/strong> rating and a price target of <strong>$131<\/strong>. The firm noted that while the company is attempting to revive its innovation pipeline, it remains shackled by significant <strong>PFAS-related legal and environmental liabilities<\/strong>.<\/p>\n<p>The report argues that the market may be underestimating the long-term overhang of these &quot;forever chemical&quot; risks. Shares of <strong>3M (<a href=\"\/stock\/MMM\">MMM<\/a>)<\/strong> slipped <strong>0.3%<\/strong> in extended trading following the report, as investors weighed the $131 target against the stock&#39;s recent closing price of <strong>$156.30<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_React_to_Massive_Inventory_Draw\"><\/span>Energy Markets React to Massive Inventory Draw<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>American Petroleum Institute (API)<\/strong> reported a staggering <strong>-9.119 million barrel<\/strong> draw in US crude oil stocks for the week ending June 5. This figure dwarfed the analyst forecast of a <strong>-3.4 million barrel<\/strong> draw and follows a previous draw of <strong>-6.75 million barrels<\/strong>.<\/p>\n<p>The <strong>U.S. Energy Information Administration (EIA)<\/strong> warned on Tuesday that global oil inventories are heading toward their lowest levels since <strong>2003<\/strong>. The agency cited the ongoing conflict with <strong>Iran<\/strong> and the closure of the <strong>Strait of Hormuz<\/strong> as the primary drivers, with Middle Eastern output down by roughly <strong>11 million barrels per day<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Middle_East_Tensions_Escalate_After_Helicopter_Crash\"><\/span>Middle East Tensions Escalate After Helicopter Crash<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>President Donald Trump<\/strong> stated on Tuesday that the United States &quot;must&quot; respond to what he characterized as the Iranian downing of a <strong>US Army Apache helicopter<\/strong> near the <strong>Strait of Hormuz<\/strong>. While the two pilots were rescued by a US unmanned surface drone and are reported to be in stable condition, the incident has severely strained a fragile ceasefire.<\/p>\n<p><strong>Iran&#39;s state media<\/strong> responded by citing military sources who warned of a &quot;decisive response&quot; to any renewed US hostility. Tehran maintains that no offensive air operations were conducted in the area within the last 24 hours, suggesting the US may be using the crash as a &quot;pretext&quot; for further conflict.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Aviation_Western_Sydney_Airport_Sets_Launch_Dates\"><\/span>Aviation: Western Sydney Airport Sets Launch Dates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Qantas Group<\/strong> has reached a landmark agreement to begin operations at the new <strong>Western Sydney International Airport (WSI)<\/strong>. <strong>Jetstar<\/strong> will make history by operating the airport&#39;s first commercial passenger service on <strong>October 25, 2026<\/strong>, with initial routes connecting Western Sydney to <strong>Melbourne<\/strong>, the <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Coast<\/strong>, and <strong>Brisbane<\/strong>.<\/p>\n<p><strong>Qantas (<a href=\"\/stock\/QAN\">QAN<\/a>)<\/strong> is scheduled to follow on <strong>March 28, 2027<\/strong>, utilizing <strong>QantasLink Embraer E190<\/strong> aircraft for its inaugural services. The airport, which will operate 24 hours a day without a curfew, is expected to significantly increase capacity for the Sydney basin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Personnel_Shifts_in_US_AI_Policy\"><\/span>Personnel Shifts in US AI Policy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Trump administration<\/strong> is facing a talent drain in its technology sector as <strong>Thomas Lind<\/strong>, a top <strong>White House AI policy adviser<\/strong>, prepares to depart. Lind\u2019s exit comes as the <strong>Office of the National Cyber Director (ONCD)<\/strong> reportedly struggles with a wave of departures. This shift occurs at a critical time for US AI strategy, as the administration continues to navigate global competition and domestic regulation of emerging technologies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bernstein initiated coverage of 3M (MMM) with an Underperform rating and a $131 price target, warning that the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[19161,1178,1947,4824,4852,5310,5670,13234,18618,19160],"class_list":["post-62900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-oncd","tag-api","tag-oil","tag-geopolitics","tag-ai-policy","tag-us-economy","tag-eia","tag-3m-mmm-stock-mmm","tag-qantas-qan-stock-qan","tag-wsi"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/62900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=62900"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/62900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=62900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=62900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=62900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}