business
Exxon, Chevron investors cautious after oil news
Key takeaways
- The Iran war had throttled the Strait of Hormuz, the narrow passage through which roughly a fifth of the world's oil normally travels, and both stocks surged on the news.
- Treasury, in the early hours of June 22, made a major change.
- Buyers can now pay Iran directly in U.S. dollars, removing one of the biggest practical barriers to Iranian oil reaching global markets.
Exxon, Chevron investors cautious after oil news Exxon, Chevron investors cautious after oil news · The Street Peace Longe Thu, June 25, 2026 at 9:37 PM GMT+7 4 min read CL=F XOM CVX For most of 2026, Exxon Mobil (XOM) and Chevron (CVX) investors enjoyed good gains as the Middle East crises pushed crude price to record highs.
The Iran war had throttled the Strait of Hormuz, the narrow passage through which roughly a fifth of the world's oil normally travels, and both stocks surged on the news.
Then the U.S. Treasury, in the early hours of June 22, made a major change.
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