ExxonMobil shares rise as oil nears $92 amid Hormuz risks

ExxonMobil shares rose approximately 0.5% to $166.47 as Brent crude oil approached $92 per barrel. The price increase is driven by supply concerns and an elevated risk premium due to constrained shipping through the Strait of Hormuz.

In addition to geopolitical factors, supply tightness is being influenced by Russian oil exports, which reportedly ran roughly 15% below plan during the first half of August. ExxonMobil recently reported second-quarter earnings of $14.5 billion and maintains strong operational momentum in the Permian Basin.

Separately, financial filings disclosed that Representative Michael Guest (R-MS) purchased between $1,001 and $15,000 of ExxonMobil stock on July 2nd through a trust account. The company recently reported quarterly revenue of $114.53 billion and has scheduled a quarterly dividend payment for September 10th.