ExxonMobil shares rose more than 2% during mid-day trading on Tuesday.
A surge in oil prices fueled the gain as the Strait of Hormuz remained closed. Brent and West Texas Intermediate crude futures climbed on expectations of higher energy sector profitability.
ExxonMobil will release its first-quarter 2026 financial results on Friday, May 1. Analysts expect Middle East conflict-driven price hikes to boost upstream earnings for the quarter.
Scotiabank recently increased its 2026 earnings per share forecast for the company.