Renewed tension in the Middle East sends the oil stocks trending.
Exxon Leads The Move
In the after-hours session, these stocks surged:
Exxon Insider Files Ownership Disclosure
Separately, Susan Elaine Buchanan, the company’s VP, Chief Accounting Officer and Controller, on Monday disclosed in a Securities and Exchange Commission filing an initial beneficial ownership stake of 47,308 shares held directly, plus 1,000 shares held indirectly through a family trust and roughly 1,292 shares held through a company savings plan, effective Jul. 1.
The disclosure came a day before Exxon signaling that second-quarter earnings could rise by roughly $5 billion from the prior quarter, citing the oil-price spike tied to the Iran conflict and improved refining margins. The company is expected to report full results on Jul. 31.
Strait Tensions Escalate
On Tuesday, U.S. Central Command said it launched the strikes after Iran attacked three commercial vessels in the Strait, calling it a ceasefire breach. The Treasury Department simultaneously revoked authorization for Iranian oil sales.
At the time of writing, WTI crude rose 2.90% to $72.48 a barrel and Brent gained 2.67% to $76.14.
Trading Metrics, Technical Analysis
The Relative Strength Index (RSI) of Exxon Mobil stands at 48.78.
XOM has gained 27.52% over the past 12 months.
The stock is currently trading around the midpoint of its 52-week range.
Benzinga’s Edge Stock Rankings indicate that XOM is experiencing long-term consolidation along with medium and short-term upward movement.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
