Exxon Mobil is trading 3.3% up at $143.46 amid a broad rally in energy stocks driven by sharply higher crude prices following renewed military strikes between the United States and Iran.
- Geopolitical tensions have significantly raised risks surrounding the Strait of Hormuz, a critical chokepoint for global oil supply.
- While the company recently approved a $1 billion Usan Infill Project in Nigeria, today’s price action is primarily attributed to sector-wide strength from rising crude prices.