On July 13, Exxon Mobil rose 3.05% in regular trading, trading at $142.53/share, with turnover of $355 million. The stock led gains among integrated oil majors as geopolitical tensions continued to support crude prices.
On the news front, the ongoing US-Iran conflict remains the primary catalyst for the oil sector rally. Earlier this month, President Trump declared the US-Iran memorandum of understanding terminated at the NATO summit, while the US revoked a general license that had permitted Iranian oil sales, effectively restoring full sanctions on Iranian crude. International oil prices surged approximately 5% on the escalation, broadly lifting energy equities.
Exxon Mobil also recently disclosed Q2 earnings guidance showing oil price increases would deliver $3.5 billion to $3.9 billion in upstream earnings gains, while refining and chemical operations are expected to contribute an additional $3.3 billion. These benefits were partially offset by approximately $1.2 billion in losses from Middle East production disruptions. The full Q2 report is scheduled for July 31. Notably, JPMorgan and Citigroup recently lowered their price targets on the stock to $158 and $155 respectively, while maintaining overweight ratings.
Within the Integrated Oil & Gas sector, the broader group also gained. Among peers, BP up 2.02%, Chevron up 1.99%, Occidental up 1.91%, Petroleo Brasileiro up 1.56%, Shell up 1.08%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
