Why Oil Prices Are Rising Today — 2 Top Energy Stocks to Watch Now

Oil prices jumped sharply after the U.S. and Israel launched strikes on Iran over the weekend, raising fears of a wider conflict in the Middle East. The attacks created immediate concern about global energy supply and pushed investors toward commodities and safe-haven assets.

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U.S. crude oil futures rose more than 7% to around $72 a barrel on March 1, while global benchmark Brent crude climbed about 8% to near $79. The move came as shipping activity near the Strait of Hormuz slowed, with some tankers holding back from the area. The surge in prices is putting major oil producers such as Exxon Mobil XOM +2.67% ▲ and Chevron CVX +1.41% ▲ in focus.

Why the Strait of Hormuz Matters

Iran is a major OPEC producer and lies next to the Strait of Hormuz, a key route for global oil shipments. Fighting in the area could disrupt supply, so markets are watching whether tanker traffic is affected.

Oil prices react quickly to supply risk. Analysts said Brent crude could approach $80 in the near term, and a longer disruption could push prices even higher.

Higher oil prices typically benefit energy producers because they can sell crude at higher market prices and expand their profit margins. As a result, we identified two major energy companies using the TipRanks database that could benefit from the rise in oil prices.

Let’s take a closer look.

**Exxon Mobil Corp. XOM +2.67% ▲ **

Exxon Mobil, the largest publicly traded U.S. oil producer, is often one of the first stocks investors watch when crude prices jump. The company operates across the full energy chain, from oil production to refining and chemicals, which allows it to capture more profit when energy prices rise.

Turning to the financials, Exxon Mobil reported full-year 2025 earnings of $28.8 billion, down from $33.7 billion in 2024 as energy prices cooled from the prior year’s highs. In the fourth quarter, adjusted earnings came in at $1.71 per share, slightly ahead of Wall Street estimates of $1.68. The results showed stable operations, but the stock slipped after the release as investors focused on weaker commodity prices and softer chemical margins.

Because of its huge global production scale, even moderate increases in crude prices can have a meaningful impact on its cash flow.

Turning to Wall Street, analysts have a Strong Buy consensus rating on XOM stock based on 12 Buys, six Holds, and one Sell assigned in the past three months, as indicated by the graphic below. The average XOM stock price target of $144.63 indicates 5.16% downside potential. At a quarterly dividend of $1.03 per share, XOM stock offers a yield of 3.35%.

**Chevron Corporation CVX +1.41% ▲ **

Chevron tends to move in a similar way to oil prices. The company has major production assets in the United States, Kazakhstan, and offshore projects around the world.

Turning to the financials, Chevron reported fourth-quarter 2025 earnings of about $2.8 billion, or roughly $1.39 per share. Adjusted earnings came in near $1.52 per share. The company generated about $46.9 billion in quarterly revenue, reflecting steady operations despite lower oil prices compared with the prior year.

Rising crude prices support its upstream earnings — the segment that produces oil — and investors often view the shares as a direct way to gain exposure to higher energy prices without trading commodities themselves.

Overall, Wall Street has a Strong Buy consensus rating on Chevron stock based on 15 Buys and six Holds. The average CVX stock price target of $187.26 indicates 0.27% upside potential. At a quarterly dividend of $1.71 per share, CVX offers a yield of 4.5%.

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