Exxon Mobil Stock Rises as Oil Prices Increase Amid US-Iran Tensions

Exxon Mobil's stock (XOM) rose sharply to around $160-161 in early trading Monday, gaining 4-5% from Friday's close amid escalating US-Iran tensions that pushed Brent crude prices up 10-13% toward $80 per barrel and WTI near $73. The surge reflects concerns over supply disruptions in the strategic Strait of Hormuz region, which handles about 20% of global oil flows. Higher oil prices are expected to boost Exxon's upstream earnings, especially in the Permian Basin and Guyana, though refining margins may face pressure. Analysts warn prices could reach $100 if conflicts persist, marking a shift from earlier forecasts of softer oil prices in 2026.