Internal summary: U.S. and global oil prices rose to four-month highs after an escalation between the United States and Iran and public threats from President Donald Trump. WTI stood at $62.97 a barrel and Brent at $68.12 a barrel. Chevron (CVX) and Exxon Mobil (XOM) shares fell up to 2% intraday then closed slightly higher. Both firms will report Q4 2025 results this week; Chevron is forecast to show year-over-year earnings declines on higher revenue. Analysts give Chevron a consensus Strong Buy and set an average target near $179.90; Piper Sandler’s highest Exxon target is $142.
U.S. and global oil benchmarks climbed to four-month highs this week as tensions rose between the United States and Iran. The move pushed West Texas Intermediate to $62.97 a barrel and Brent to $68.12 a barrel after public threats from the U.S. president increased geopolitical risk.
“Hopefully Iran will quickly ‘Come to the Table’ and negotiate a fair and equitable deal,” the president wrote, also warning that “the next attack will be far worse!” than last year’s strikes on Iranian nuclear sites. Markets reacted to the rhetoric and the heightened threat of conflict.
Shares of CVX and XOM fell as much as 2% intraday before finishing the session slightly positive. Energy investors now await Q4 2025 earnings from both majors, with Chevron expected to report lower earnings year-over-year on higher revenues.
Executives from Chevron will speak after the report, and traders are watching the February 1 OPEC+ meeting for production guidance (Ed. note: investors will seek clarity on March targets and Kazakhstan’s output ramp-up). Analysts rate Chevron a consensus Strong Buy from 20 firms, with an average $179.90 target implying about 6% upside, while several firms maintain Overweight ratings on Exxon Mobil, led by a $142 target from Piper Sandler.
