ExxonMobil (NYSE:XOM) shares are trading higher on Wednesday as buyers continue to lean into the stock’s longer-term uptrend, even as momentum readings flash a more "stretched" setup near recent highs.
As the U.S.-Iran war continues to disrupt oil flows through the Strait of Hormuz, the broader energy sector has emerged as one of the best-performing market sectors in 2026, gaining about 40% year to date.
U.S. crude prices are climbing above $85 a barrel. On Wednesday, at the time of writing, WTI Crude stood at $85.62, and Brent stood at $91.56.
NATO on Alert & UAE Cut Ties
Iran is reportedly contemplating an assault on U.S. military targets in Europe, should the ongoing conflict with the Trump administration escalate. Iranian forces have been assessing the feasibility of striking U.S. assets in south-eastern European countries such as Bulgaria.
