Amid the escalation of US-Iran military tensions triggering a surge in oil prices, ExxonMobil's stock price rose nearly 5% in pre-market trading, and Brent crude oil prices soared by as much as 13%. The geopolitical risk premium has driven a broad rally in energy stocks, with ExxonMobil expected to benefit directly from rising crude oil prices through its low-cost upstream operations in the Permian Basin and Guyana. The stock has gained approximately 27.57% so far this year and recently reported its fourth consecutive quarter of better-than-expected earnings.
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Amid the escalation of US-Iran military tensions triggering a surge in oil prices, ExxonMobil's stock price rose nearly 5% in pre-market trading, and Brent crude oil prices soared by as much as 13%. The geopolitical risk premium has driven a broad rally in energy stocks, with ExxonMobil expected to benefit directly from rising crude oil prices through its low-cost upstream operations in the Permian Basin and Guyana. The stock has gained approximately 27.57% so far this year and recently reported its fourth consecutive quarter of better-than-expected earnings.