Exxon says $150 oil is coming as Hormuz stays shut — load up on oil majors
The Strait of Hormuz — the world's most important oil shipping route — is shut down due to the Iran war. An Exxon executive just warned that oil inventories will soon hit historic lows, pushing prices toward $150–160 a barrel.
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The Strait of Hormuz handles roughly a fifth of global oil supply, and it's currently closed. Exxon's own leadership is publicly saying physical oil cargoes could spike to $150–160 once stored inventories run dry — something they expect within weeks, not months. When oil prices surge like this, the companies that pull oil out of the ground tend to see their stock prices climb even faster because their profit margins widen dramatically. Even if a ceasefire eventually materializes, analysts warn the era of cheap $60 oil may be over, meaning these companies could stay highly profitable for a long time.