Oil could rocket to $150 as stockpiles dry up — load up on Exxon and Chevron before the squeeze
An Exxon executive is warning that global oil stockpiles are about to hit record lows, pushing prices as high as $150–$160 a barrel. The Strait of Hormuz — the world's most important oil shipping lane — remains shut because of the Iran war, choking off supply.
Idea
Oil supply is being squeezed from two directions: the Strait of Hormuz is essentially closed due to the Iran war, and an Exxon executive just said inventories will soon hit all-time lows — predicting Brent crude could rocket to $150–$160 a barrel. When a major oil company publicly forecasts that kind of spike, it usually means the physical market is already tightening fast. That's rocket fuel for oil producers like Exxon and Chevron, which make more money on every barrel they sell. Even if a ceasefire materialises, one analyst noted the era of $60 oil may be over — meaning these stocks could stay elevated for a while.