business
Exxon CEO delivers blunt message on oil prices, economy
Key takeaways
- Tankers that had been at sea when the Iran war began were arriving and emptying out.
- Exxon Mobil has been watching those buffers drain in real time, and its two most senior voices have now said publicly what that means for where prices are heading.
- Speaking on ExxonMobil's (XOM) first-quarter 2026 earnings call, CEO Darren Woods told Wall Street analysts that markets have not yet absorbed the full impact of the Iran war and the closure of the Strait of Hormuz.
Exxon CEO delivers blunt message on oil prices, economy Hillary Remy Mon, June 8, 2026 at 9:37 PM GMT+7 7 min read XOM CL=F Oil futures spent much of the spring moving sideways while something very different was happening in the physical market. Inventories were disappearing. Strategic reserves were being spent.
Tankers that had been at sea when the Iran war began were arriving and emptying out. The buffers that had kept prices from spiking were being consumed, one by one.
Exxon Mobil has been watching those buffers drain in real time, and its two most senior voices have now said publicly what that means for where prices are heading.
Article preview — originally published by Yahoo Finance. Full story at the source.
Read full story on Yahoo Finance →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from Yahoo Finance alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop