Exxon Mobil shares have fallen 9.36% since the Iran conflict began on February 28, 2026, even as West Texas Intermediate crude surged to $102.13 per barrel in May 2026. A $10,000 investment in XOM at the first tradeable open on March 2, 2026, would be worth about $9,064 as of July 10, 2026, while the S&P 500 posted gains over the same window. The stock’s decline defied the classic reflex trade of buying oil majors on Middle East war news, with broader energy names also selling off in what appeared to be a sector-wide sell-the-news episode. Exxon’s fundamentals remain strong, including 43 straight years of dividend growth, a 2.94% yield, and a forward price-to-earnings ratio of 13, but its 10-year return of 125.88% badly trailed the S&P 500’s 251.22% gain.
Exxon Mobil CorpShares fell 9% since Iran conflict began despite oil spike, indicating a sell-the-news episode
NVIDIA Corporation