Exxon Shares Hit $159.15 Record as Middle East Refinery Attacks Boost Oil Prices
Exxon Mobil shares climbed to an intraday record of $159.15, extending a 42% gain over the past year and lifting its market cap to approximately $635 billion. Attacks on Saudi Arabia’s Ras Tanura refinery and threats to the Strait of Hormuz drove oil prices higher, boosting energy producers.
1. Share Performance
Exxon Mobil shares climbed about 2% to an intraday high of $159.15, marking a company record and extending a 42% gain over the past year to reach a $635 billion market value.
2. Geopolitical Drivers
Escalating tensions in the Middle East, including attacks on Saudi Arabia’s Ras Tanura refinery and renewed threats to the Strait of Hormuz shipping lane, pushed crude prices higher and supported gains for major energy producers like Exxon Mobil.
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