05:59 AM EDT, 03/16/2026 (MT Newswires) -- Exxon Mobil ( XOM ) , Chevron ( CVX ) and ConocoPhillips ( COP ) chief executives cautioned the Trump administration that the disruption to the energy flows due to the Strait of Hormuz closure would continue to result in higher volatility in international markets, The Wall Street Journal reported over the weekend, citing unnamed sources having knowledge of the matter.

In a series of White House meetings Wednesday and recent discussions with US Energy Secretary Chris Wright and Interior Secretary Doug Burgum, Exxon Mobil ( XOM ) CEO Darren Woods raised concern that oil prices may jump past current elevated levels if speculators unexpectedly lift prices, the people told the WSJ.

Chevron ( CVX ) CEO Mike Wirth and ConocoPhillips ( COP ) CEO Ryan Lance also delivered their concerns about the scale of the disruption, the news outlet said, citing the people.

Trump administration officials have also told oil CEOs that they intend to raise the oil flow between Venezuela and the US, according to the Journal, citing a White House official.

US officials, including Burgum held talks with Exxon and ConocoPhillips ( COP ) about returning to Venezuela to invest in the country's ruined oil fields, according to the WSJ.

Exxon Mobil ( XOM ), Chevron ( CVX ), ConocoPhillips ( COP ), and the White House did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)