Exxon Mobil (XOM) is sliding as oil prices drop sharply after the U.S. agreed to a two-week ceasefire with Iran, shifting the market from supply-shock fears toward de-escalation expectations. The move is hitting energy equities broadly because Exxon’s earnings and cash generation remain highly leveraged to crude prices, so a fast downside move in Brent/WTI typically compresses near-term profit expectations and prompts sector-wide de-risking. (axios.com)

Crude fell in a large, fast move as traders priced in a partial normalization of Middle East flows if safe passage through the Strait of Hormuz is restored and shippers regain confidence. Brent dropped about 13% to roughly $95 a barrel, described as the biggest one-day free fall in oil since the 1991 Gulf War, accelerating the unwind of the war-driven risk premium that had lifted prices in March. (axios.com)

Key swing factors are (1) whether the ceasefire holds for the full two weeks, (2) confirmation that shipping traffic and exports can resume safely, and (3) whether physical-market tightness persists even as futures reprice. If crude continues to retreat, investors may refocus on Exxon’s sensitivity to lower oil prices that management has previously flagged as a direct headwind to upstream results. (benzinga.com)