Mar. 2 at 11:55 AM
🛢️
$XOM climbing premarket as oil rips on Middle East tensions.
After attacks near the Strait of Hormuz, crude spiked hard: Brent +13%, WTI +12% at intraday highs. Risk premium is back in a big way.
Energy names catching a strong bid:
$XOM +4% premarket
$COP $OXY $HAL $SLB also higher
With ~20% of global oil flowing through Hormuz, any disruption = instant upside pressure on crude. If this escalates, analysts are already floating
$100 oil scenarios.
$XOM’s Permian + Guyana exposure makes it a direct beneficiary of higher prices. While the broader market sells off, energy is acting like the hedge trade.
