Exxon warns oil could hit $150 as stockpiles run dry — load up on oil majors before the next leg up
An Exxon executive just warned that oil stockpiles are about to fall to historic lows within weeks, pushing physical oil prices as high as $150–160 a barrel. The Iran war and the closure of the Strait of Hormuz have choked off global supply.
Idea
Exxon's own leadership is publicly forecasting a supply emergency — inventories nearing all-time lows and Brent crude potentially spiking to $150–160 per barrel. The Strait of Hormuz closure since February has already choked global oil traffic. When the world's largest oil company warns of a price spike, it usually means the market hasn't fully caught up yet. Oil producers like Exxon, Chevron, and ConocoPhillips rake in far more profit at $120+ oil than today's prices imply, and their stocks tend to move in anticipation. Even if a ceasefire materializes, analysts say the era of cheap oil is over — giving these companies a multi-quarter tailwind.