Exxon Mobil CEO Warns Market Has Not Fully Absorbed Impact of Iran War on Oil Supply
Exxon Mobil CEO Darren Woods stated that oil prices have not yet reflected the full impact of the supply disruption caused by the Iran war and the closure of the Strait of Hormuz. He noted that the market has been cushioned by tankers in transit, strategic reserves, and commercial inventories, but prices are expected to rise if the strait remains closed for an extended period.
Tickers: $XOM
Topics: Exxon Mobil Iran war market volatility oil prices Strait of Hormuz supply disruption