06:10 AM EDT, 03/17/2026 (MT Newswires) -- (Updates with responses from ConocoPhillips ( COP ) and the White House in the sixth and seventh paragraphs.)

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.

The Trump administration has been working with energy firms since the Operation Epic Fury started to "mitigate" short-term disruptions and stabilize the global energy industry, a White House spokesperson quoted Burgum in an emailed statement to MT Newswires Monday. "The undeniable success of President Trump's Energy Dominance Agenda is only possible because of the industry relationships we foster every day."

ConocoPhillips ( COP ) declined MT Newswires' request for comment, while Exxon Mobil ( XOM ) and Chevron ( CVX ) did not respond.

(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.)