Oil Prices Rise on Middle East Tensions, Exxon Mobil Corp. Surge

Exxon Mobil Corporation (NYSE: XOM) closed at $103.14 on April 11, gaining 3.21% in a single session. The rise comes as oil prices surge, driven by renewed tensions in the Middle East. Ongoing friction between Israel and Iran has heightened concerns over potential supply disruptions. These developments continue to shape investor sentiment across the energy sector.

Historically, geopolitical conflict in oil-producing regions leads to sharp price movements. Market participants often react to perceived threats of supply shortages. These reactions can result in immediate price swings, reflecting uncertainty in global energy markets. Current events have triggered such a reaction, pushing oil prices upward and benefitting energy stocks like Exxon Mobil.

XOM is also preparing for its upcoming earnings report, set for May 2, 2025. Watch closely, especially with the backdrop of global instability. Increased demand for energy assets may play a role in Exxon’s short-term performance.

Technical Analysis

Exxon Mobil recently rebounded from a key support zone at around $98. Price surged from this demand area and is now trading slightly below the 200-day moving average at $111.62.

A strong rally could follow if price holds above the current support. Immediate resistance lies near $120. If broken, the next major target sits at $126.34 previous high. However, a break below the $98 support zone could lead to a deeper decline. The volume surge also confirms increased buying activity, reinforcing the possibility of a continued uptrend in the coming days. Monitor price behavior near $110 for directional clues.