Exxon Mobil Corp ( XOM ) shares are trading higher Friday afternoon as investors rotated into energy names amid a historic oil-market shock tied to the Iran conflict. Here’s what investors need to know.

Exxon Mobil ( XOM ) stock is at critical resistance. Why are XOM shares at highs?

Brent Crude Surge And Strait Of Hormuz Risks Lift Exxon Mobil Stock

Brent crude has jumped 49% in March, its strongest monthly gain since November 1973, while New York Harbor ultra-low sulfur diesel futures have soared 61%, the largest monthly increase ever recorded for the contract. Gasoline futures are up 38% month to date, their biggest monthly rise since March 1999.

For Exxon, the rally reflects investor expectations that elevated crude and refined-product prices could support stronger upstream earnings and broader cash generation if tight supply persists. The Strait of Hormuz, a key artery for global oil flows, has become a chokepoint under military threat, amplifying fears of prolonged energy inflation.

With markets increasingly pricing in a longer-lasting macro shift rather than a short-lived shock, traders appear to be treating XOM as one of the clearest beneficiaries of the current oil surge.

XOM Momentum Strengthens As RSI Nears Overbought Territory

Exxon Mobil's ( XOM ) RSI has mostly hovered in the neutral range over the past year, with periodic spikes into overbought territory above 70.

Recently, momentum has strengthened, with RSI pushing toward overbought levels, signaling increased bullish pressure but also a potential for short-term pullbacks.

XOM Shares Edge Higher Friday

XOM Price Action: Exxon Mobil ( XOM ) shares were up 2.67% at $162.39 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

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