ExxonMobil rises as oil prices and Middle East risk lift energy

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.

The Bezmer air base in Bulgaria, recently greenlit for use by U.S. refueling aircraft, is among the potential targets, the Financial Times reported Wednesday, citing insiders close to the Iranian regime.

This development comes in the wake of the United Arab Emirates (UAE) severing all trade and financial transactions with Iran following a reported missile strike.

Two ballistic missiles were launched from Iran towards the UAE’s territorial waters, causing no damage or casualties but marking an unwelcome return of the conflict to the Gulf economy’s shores after more than three months.

ExxonMobil Stock: Key Levels To Watch ExxonMobil is extended above its key moving averages, which is usually what you see in a sustained uptrend: the stock is trading 6.3% above its 20-day SMA, 12.9% above its 50-day SMA, and 17.9% above its 200-day SMA.

The 20-day SMA is also above the 50-day SMA (bullish), and the longer-term "golden cross" (50-day above 200-day) remains in place after forming in August 2025.

RSI is the cleanest momentum lens right now, with a reading of 72.81 putting the stock in overbought territory and signaling the move is getting stretched rather than broken.

In plain English, RSI helps gauge whether a rally has become overheated enough that buyers may pause or the price may chop sideways even if the bigger trend stays up.

From a levels standpoint, the stock is trading below the 52-week high zone ($176.41), which makes nearby resistance important if bulls try to press for a breakout.

Key Resistance: $176.50 — sits right on the recent high area where upside attempts can stall Key Support: $149.00 — lines up near a prior pivot zone and is also close to the 50-day SMA area ($148.39), making it a key "trend support" reference.

ExxonMobil Analysts Ratings The stock carries a Buy rating with an average price forecast of $168.33.

Recent analyst moves include: Barclays: Overweight (Lowers Target to $177.00) (Aug.

17) TD Cowen: Buy (Raises Target to $168.00) (Aug.

7) Freedom Broker: Upgraded to Hold (Raises Target to $142.00) (Aug.

4) ExxonMobil’s Impact on Major ETFs iShares Core High Dividend ETF (NYSE: HDV ): 7.81% Weight iShares North American Natural Resources ETF (BATS: IGE ): 9.42% Weight GQG US Equity ETF (NYSE: GQGU ): 6.74% Weight Significance: Because XOM carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

XOM Stock Price Activity: ExxonMobil shares were up 1.05% to $167.29 at the time of publication on Wednesday, according to Pro data.

Photo via Shutterstock