Exxon Mobil Gains 26% on $10 Oil Surge, Plans 600,000-Barrel Shipment
Investors poured $4 billion into the Energy Select Sector fund this year, lifting Exxon Mobil up 26% as oil surged more than $10 on Middle East tensions. Exxon plans a maiden 600,000-barrel fuel shipment from the U.S. Gulf Coast to Australia to meet its own import needs.
1. Oil Price Surge and ETF Inflows
Renewed Middle East tensions propelled crude prices up over $10 a barrel, triggering $4 billion of inflows into the Energy Select Sector fund this year. Exxon Mobil, as one of the fund’s largest holdings, has rallied 26% in 2026, with shipping and refining disruptions at the Strait of Hormuz raising concerns over tighter energy flows and inflationary pressure.
2. Maiden Gulf Coast to Australia Fuel Shipment
Exxon is preparing its first ever 600,000-barrel fuel delivery from the U.S. Gulf Coast to Australia to cover its domestic import requirements. The move marks a strategic shift in logistics, potentially reducing reliance on third-party suppliers and strengthening Exxon’s supply chain flexibility in the Asia-Pacific region.