# US strikes near Hormuz send oil surging toward $97 — ride the energy rally on Exxon and Chevron

_AI-generated trading idea · LONG · CVX, OXY, USO, XOM_

> Canonical page: https://commonquant.ai/research/for-you/us-strikes-near-hormuz-send-oil-surging-toward-97-ride-the-e--6fac30b4-c278-4346-8b02-252ffa8120d0

The U.S. just carried out fresh airstrikes on an Iranian military site near the Strait of Hormuz, one of the world's most important oil-shipping chokepoints. Oil prices jumped nearly 3% toward $97 a barrel as traders worry shipping disruptions could squeeze global supply.

## Idea

Every time military tensions flare near the Strait of Hormuz — through which roughly 20% of the world's oil flows — energy stocks tend to rally hard. Brent crude just surged 2.9% toward $97 a barrel after the second round of U.S. airstrikes in three days. The ceasefire that markets were banking on now looks fragile, meaning the fear premium in oil could stick around for weeks. Major oil producers like Exxon and Chevron directly benefit from higher crude prices, and they're still trading well below the levels they reached during the last Middle East escalation. With no diplomatic breakthrough in sight, this rally has room to run.

## Key details

- Symbols: CVX, OXY, USO, XOM
- Timeframes: daily
- Tags: \#geopolitics, \#energy, \#oil, \#iran

## Community

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## News sources

- [Iran War: US Strikes Targets Near Hormuz With No Deal in Sight \| The Opening Trade 5/28/2026](https://www.bloomberg.com/news/videos/2026-05-28/the-opening-trade-5-28-2026-video) — Bloomberg
- [Oil jumps after fresh U.S. strikes in Iran revive Strait of Hormuz disruption fears](https://www.cnbc.com/2026/05/28/oil-prices-us-strikes-in-iran-revive-strait-of-hormuz-turmoil-fears.html) — CNBC

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