Energy companies surged as Brent crude prices touched nearly $110 a barrel on Monday amid growing tensions in the Middle East.

  • XOM stock clocked an annual high of $179.30 on Monday during trading hours, before closing about 0.4% down. 
  • CVX stock surged to a 52-week high of $225.67, but ended the session 0.28% lower. 
  • MPC stock rallied to a 52-week high of $493.98 during regular trading, but ended the day nearly 1% down.

Shares of energy companies Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), and Marathon Petroleum Corp. (MPC) surged to annual highs on Monday as oil prices rallied amid growing geopolitical tensions. 

Brent crude prices touched nearly $110 a barrel on Monday as tensions in the Middle East continued to ratchet up. 

Why Are Fuel Prices Surging?

A series of recent escalations, including attacks on commercial ships near the Strait of Hormuz, Houthi missile strikes on Saudi Arabia, and Ukraine’s strike on a Russian refinery, stoked fears about a further constraint in fuel supplies, sending prices higher. 

Worries continued despite the U.S. government’s efforts to curtail rising prices, including planned fuel releases and changes to U.S. sanctions on Russian imported fuel.

Since the U.S.-Iran war began in February, energy prices have been climbing steadily, boosting energy companies. As per Koyfin data, energy stocks have outperformed the S&P 500 by a significant margin in 2026. 

XOM, CVX, MPC Stocks: 52-Week Highs

Exxon Mobil, Chevron, and Marathon Petroleum shares surged to 52-week highs on Monday before closing lower amid the steep climb in oil prices. 

XOM stock hit an annual high of $179.30 during trading hours on Monday before closing about 0.4% down. 

CVX stock surged to a 52-week high of $225.67, but ended the session 0.28% lower. 

MPC stock rallied to a 52-week high of $493.98 during regular trading, but finished the day nearly 1% down. 

Retail sentiment around XOM, CVX and MPC stocks was ‘bullish’ at the time of writing on Stocktwits. 

XOM stock has gained more than 48% year-to-date, while CVX and MPC stocks have surged more than 47% and 200%, respectively. 

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