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Why Exxon Mobil Stock Is Falling Tuesday Afternoon – Exxon Mobil (NYSE:XOM)
A Wall Street Journal report said President Donald Trump told aides he was willing to end military hostilities with Iran, even if the Strait of Hormuz remains largely closed. At the same time, U.S. stocks staged a relief rally, with the S&P 500 up 2.9%, the Nasdaq-100 up 3.3% and the 10-year Treasury yield falling to 4.3%.
That mix can pressure Exxon even with WTI crude still above $102 per barrel. For oil majors, the key issue is not just where crude trades now, but where the market thinks the geopolitical shock is heading next.
Exxon had benefited from a war-premium mindset, for which investors were pricing in the risk of broader regional escalation, deeper supply disruption and an even sharper spike in oil.
Energy stocks tumble after massive March
Energy and chemical stocks tumbled early Wednesday on growing expectations that the US participation in the Iran war is nearing an end, and West Texas Intermediate crude oil futures slipped back below $100 a barrel.
LyondellBasell, APA Corporation, Dow, Inc., CF Industries, and Marathon Petroleum — the S&P 500’s top 5 gainers last month — all sank.
Natural gas drillers EOG Resources, Devon Energy, Coterra Energy, and Diamondback Energy dropped, as did integrated oil giants Exxon and Chevron. Fuel refiners and marketers such as Phillips 66 and Valero also fell.
Don’t shed too many tears for these energy giants; the S&P 500 energy sector rose 10% in March and 37% in Q1 2026.
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