NEW YORK, April 28, 2026, 06:49 EDT
Oil jumping past $110 a barrel is giving big energy stocks fresh momentum. Exxon Mobil, Chevron, and ConocoPhillips—those are the U.S. names traders are eyeing first today. Brent crude gained close to 3% as U.S.-Iran negotiations stalled out, leaving the Strait of Hormuz mostly closed off. “The market was rapidly repricing geopolitical risk,” said Rystad Energy’s Jorge Leon. Reuters
This time, the oil shock isn’t confined to energy names. U.S. stock-index futures slipped early Tuesday, with traders eyeing the chance that stubbornly high crude prices might stick around. Oil is still running 54% above where it stood before the war, according to Reuters. Ameriprise strategist Anthony Saglimbene flagged geopolitical events as an “active and important variable” in current risk management. Reuters
The impact of earnings is beginning to surface. Matt Britzman, senior equity analyst at Hargreaves Lansdown, pointed out that the earnings season allowed markets to shrug off recent disruption. Still, he cautioned that if oil flows remain limited, “the greater the risk” for higher energy costs to squeeze demand and margins in other sectors. Reuters
If you punch in “best energy stocks to buy today,” scale still dominates the list. As of April 27, Exxon Mobil made up 22.40% of the Energy Select Sector SPDR Fund, Chevron 16.69%, and ConocoPhillips 7.18%. These names aren’t guaranteed buys, but that’s where most of the liquid U.S. energy action is parked. SSGA
Exxon tops that list mainly due to scale and its portfolio. The first-quarter earnings call lands on May 1. In its investor materials, Exxon breaks the business into upstream production, product solutions, and low-carbon operations. Upstream, in this context, refers to oil and gas extraction, not refining or retail.
Chevron’s just behind, and it’s moving in headlines again. Sources told Reuters the company was on track to wrap up the $1 billion-plus sale of its 50% stake in Singapore Refining and other regional assets to Japan’s Eneos this May. Some of the deal terms have come back under review, following the supply disruption.
Of the three U.S. stocks, ConocoPhillips stands out as the most straightforward crude-price play. The company, which bills itself as one of the world’s largest independent exploration-and-production outfits, is on deck to post first-quarter earnings before the bell on April 30. That report offers investors a quick look at how much of the recent oil rally is hitting the bottom line.
Shell is bringing M&A into play. On Monday, the company struck a $16.4 billion agreement to acquire Canada’s ARC Resources, snapping up an extra 370,000 barrels of oil equivalent per day — or boed, stacking oil and gas output together. CEO Wael Sawan called the deal a good fit, saying Shell was “very comfortable” with its impact on the company’s financial setup. Reuters
BP’s first quarter profit hit $3.2 billion—more than twice last year’s figure—helped by oil trading gains as prices surged on war disruptions, but the story isn’t straightforward. Debt climbed, buybacks remain on ice, and new CEO Meg O’Neill told investors BP is “heading in the right direction,” leaving plenty still up in the air. Reuters
Peers sent mixed signals. BP’s numbers lifted European energy stocks, yet wider European equity markets barely budged, investors stuck between stalled U.S.-Iran negotiations, looming central bank decisions, and worries that the conflict may keep pushing up inflation.
No, the risk section isn’t just a footnote here. Goldman Sachs analysts, with Daan Struyven at the helm, flagged that the wider economic threats look bigger than what the crude-price scenario alone implies. They cautioned: if this supply shock drags on, demand might have to fall much harder. The International Energy Agency echoed that anxiety earlier this month, predicting oil demand will actually shrink in 2026—scarcity and higher prices are pushing buyers out.
Tight field today: Exxon and Chevron get nods for sheer balance-sheet heft, ConocoPhillips stands out on cleaner output, Shell’s ARC deal keeps it in play, BP surprises with trading-driven profits. Smaller energy stocks can run hotter, but given the mix of war headlines, shipping snags, and central-bank jitters, investors are sticking with liquidity and robust balance sheets.
