EXXON MOBIL CDR REG.S ADR

Commodity transits through the Strait of Hormuz have plunged, but crude and Exxon Mobil stock have not moved in lockstep—XOM is up ~35% year-to-date but fell ~6% last week as market prices factor in a possible reopening. CEO Darren Woods warned that ongoing attacks and uncertainty make a rapid reopening unlikely, so any normalization will be gradual. Exxon's heavy refining exposure and LNG concentration in Qatar mean a crude spike would be partly offset by margin compression and stranded cargo risks, limiting a clean upside for the company. The market will watch sustained recovery in daily transit counts, insurance premiums and official inventory data as the key test for a genuine reopening. » Plus sur finance.yahoo.com

Exxon Mobil's stock has risen as the Iran conflict lifts oil prices, boosting upstream earnings through higher realized prices rather than production growth. The company benefits from a strong balance sheet, sizable buybacks, record Guyana output and expansion in the Permian, with longer-term upside from gas demand tied to data centers. However, the IEA and OPEC see softening global oil demand, so a fading Iran premium or ceasefire could erode the recent earnings lift. Compared with Chevron, Exxon offers a lower valuation and stronger balance-sheet metrics, while Chevron currently yields more. » Plus sur finance.yahoo.com