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Oil prices tend to rise when demand is strong, supply is constrained or geopolitical events disrupt normal trade flows. In this case, the US and Israel appeared to act pre-emptively in what they saw as a defensive move. The broader market impact has been felt more widely.
When oil prices move, they rarely move in isolation. Higher crude prices can affect inflation, central bank expectations, shipping costs and corporate margins across the global economy.
What is happening
There are three broad ways companies can benefit from higher oil prices:
1. Producing oil and gas, by selling the commodity at a higher price
2. Providing services and equipment to producers
3. Transporting oil around the world
Each of the stocks below represents one of those exposure types, with a different risk profile when crude climbs.
1. Exxon Mobil (NYSE: XOM)
Exxon Mobil is one of the world’s largest integrated oil companies, involved in everything from exploring for and producing oil to refining it into fuel and producing chemicals. When oil prices rise, its upstream business may benefit from wider margins, while its size and diversification can help cushion weaker spots in the cycle.
Exxon has major positions in growth regions such as the US Permian Basin and large offshore projects, which are designed to deliver relatively low-cost barrels over many years. When prices are high, low-cost production may support free cash flow and the company’s capacity for dividends, buybacks or further investment.
Exxon Mobil (XOM) vs. Brent Crude 6-month performance
Consensus: Buy
According to TradingView, analyst sentiment towards Exxon is broadly positive, with a consensus Buy rating. Of the 31 analysts tracked, 15 rate the stock as Strong Buy or Buy, while 13 rate it Hold.
The positive view is linked to Exxon’s balance sheet strength and higher-margin production, with the most optimistic analysts projecting a 1-year price target as high as US$183.00. However, a small minority of 3 analysts has issued a Sell or Strong Sell rating, contributing to an average price target of US$145.00, which sits about 3.6% below the current trading price.
2. Chevron (NYSE: CVX)
Chevron is another global integrated major that has benefited from the recent move higher in crude, with its shares trading near 52-week highs. Like Exxon, Chevron operates across the value chain, including upstream production, refining and marketing. Chevron’s completed acquisition of Hess adds Guyana and other upstream assets, which some analysts see as supportive over time, although the earnings impact remains subject to integration, project execution and commodity-price risks.
In an environment where oil and gas prices can be volatile, that diversification may help smooth earnings while still providing leverage to stronger energy prices.
Exxon Mobil vs Chevron performance, 6-month chart
Consensus: Buy
Chevron is viewed similarly to Exxon, with broker sentiment remaining broadly constructive. Recent TradingView aggregates show 30 analysts covering the stock over the past three months, with 17 rating it Strong Buy or Buy, 11 at Hold, 1 at Sell and 1 at Strong Sell. Analysts have highlighted its diversified portfolio and the potential contribution from Hess, although commodity-price volatility and execution risks may keep some more cautious.
3. SLB (NYSE: SLB)
Higher oil prices do not only affect producers. In this case, SLB (formerly Schlumberger) is one of the world’s largest oilfield services companies, providing technology, equipment and services that help producers find and extract hydrocarbons more efficiently. When crude trends higher, producers may increase drilling and completion activity, which can lift demand for SLB’s services and software. Recent commentary has also pointed to the company’s growing digital business and global exposure, which may support earnings growth if the upcycle continues.
Consensus: Buy
According to TradingView, analyst consensus on SLB is Buy, indicating broadly positive sentiment. Of the 33 analysts tracked, 27 rate the stock Strong Buy or Buy, while 4 rate it Hold and 2 rate it Sell or Strong Sell.
Analyst sentiment appears to reflect expectations around SLB’s position as a broader technology partner. The average price target of US$55.71 implies 15.8% upside from current levels, while the highest target stands at US$74.00. These forecasts appear to be linked to expectations of increased international drilling activity and a recovery in offshore deepwater markets.
4. Baker Hughes (NYSE: BKR)
Baker Hughes is another major oilfield services and equipment provider, with additional exposure to industrial segments such as LNG and power infrastructure. Even when oil prices are not at extreme highs, advances in drilling technology and lower break-even costs have helped keep many shale plays profitable, supporting demand for its services.
The company has been described as well positioned because of its balance sheet and its exposure to ongoing exploration and production activity. In a period of higher, or even stable-to-firm, oil prices, that mix of services and energy technology may create several revenue drivers.
Consensus: Strong Buy
Broker sentiment towards Baker Hughes is broadly positive, similar to SLB. More than 75% of covering analysts rate the stock as a Buy or Strong Buy, with the remainder generally at Hold. Analysts have pointed to its exposure to both traditional oilfield services and energy and industrial technology, including LNG infrastructure.
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Transport and shipping exposure
5. Global oil tanker operators
Oil tanker companies can benefit when higher prices, OPEC+ policy shifts and geopolitical tensions increase long-distance shipments and disrupt usual routes.
Recent reports have pointed to stronger freight rates and high volumes of oil in transit, as increased production from the Middle East and supply growth from the US, Brazil, Guyana and Canada flow towards Asian markets. That ‘tonne-mile’ demand may support tanker day rates and profitability even when the broader energy market is volatile.
Consensus: N/A
This is a broader industry category rather than a single publicly traded stock, so there is no single broker consensus for it. Analyst views would need to be assessed at the company level, such as Frontline plc (FRO), Euronav (EURN) or Scorpio Tankers (STNG). More broadly, the sector is often viewed as cyclical, although current conditions may support freight rates when geopolitical disruptions lengthen shipping routes.
6. Woodside Energy (ASX: WDS)
Woodside adds an Australia-based name with global LNG and oil exposure. Its 2024 full-year results showed underlying profit down 13%, primarily because of lower realised oil and gas prices, according to the company’s full-year results announcement. That highlights how sensitive earnings can be to commodity price realisation.
If crude and related energy prices strengthen, Woodside’s earnings outlook may improve, although the extent of that change will still depend on company-specific factors and realised pricing.
Consensus: Hold
In contrast to the larger US majors, broker sentiment towards this Australian-based producer is more cautious, with consensus generally at Hold. Most analysts favour maintaining existing positions rather than increasing exposure. That more measured view is often linked to its LNG pricing exposure, softer realised commodity prices and longer-term regulatory and decarbonisation pressures.
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Risks and constraints
Higher oil prices are not a free ride for these stocks.
- If prices spike too far, too fast, they may trigger demand destruction and policy responses that weigh on future profits.
- Political decisions from OPEC+ or major producers mau reverse a rally by increasing supply.
- Services and tanker companies are highly cyclical. When the cycle turns, pricing power can fade quickly.
In other words, these names may benefit from higher oil prices, but they also carry sector-specific, geopolitical and company-level risks that deserve close attention.
Key market observations
- Higher oil prices often support integrated majors such as Exxon and Chevron through stronger upstream margins and diversified cash flows.
- Oilfield services stocks such as SLB and Baker Hughes may see stronger demand when producers increase drilling and completion activity.
- Tanker operators may benefit from higher freight rates when geopolitics and supply shifts increase long-haul shipments.
- These stocks can be volatile, so diversification and time horizon remain important during commodity upcycles.
References in this article to Exxon Mobil, Chevron, SLB, Baker Hughes, Woodside, tanker operators, analyst consensus ratings and price targets are included for general market commentary only and do not constitute a recommendation or offer in relation to any financial product or security. Third-party data, including consensus ratings and target prices, may change without notice and should not be relied on in isolation. Energy and shipping exposures are cyclical and can be materially affected by commodity price volatility, realised pricing, production changes, project execution, geopolitical disruptions, freight market conditions, regulatory developments and shifts in investor sentiment. Any views about potential beneficiaries of higher oil prices are subject to significant uncertainty.
XAUUSD Analysis 17 – 21 April 2023 The gold price outlook is positive in the medium term. As last week's closing of the buying bar was above the 1960 support or the latest high in price on the Weekly timeframe, it indicates the continued buying momentum that will allow the price of gold to continue. It can rise further to test the 2070 resistance level, which is a key resistance level at the weekly timeframe level and is the highest price level that gold has ever reached in history.
But even so, the price of gold remains negative in the short term. Because the close of the last week's buying pressure has drawn down as much as half of the candlestick. This indicates weaker buying momentum following last Friday's sell-off. which may have descended to adjust the base or sideways at the 2000 support level and if the price is moving towards the next support, 1985 and 1976, which are important support levels at the time frame H4 and H1 to watch because if the price cannot go down deeper than the above two support levels The direction of the gold price is likely to continue to rise to test the resistance 2070, in line with the large time frame in the medium term where the price is still Up Trend.
And if the price of gold cannot continue to rise, but there is a breakout of the 1985 and 1976 support levels, it can come down with continuous selling pressure. Daytime support at the 1960 price level or the latest price high in the Weekly timeframe are next targets to watch. EURUSD Analysis 17 – 21 April 2023 EURUSD Price can be viewed both positively and negatively.
As EURUSD is currently hovering around 1.09900, which is the previous high in the Weekly and Daily timeframes, and is starting to lose buying momentum as the weekly candlestick has moved in the past week. guts down (Significantly) as last week's closing price was lower than last week's high. After adjusting up to test the latest High before there is a selling pressure down. Forecasting that price There can be both up and down directions in the medium-term daily timeframe as the loss of buying momentum last week has made the trend or price trend less pronounced.
The price is 1.09900, the next target that the price will rise to test is the resistance 1.11650. down to the support area 1.08800. AUDUSD Analysis 17 – 21 April 2023 The AUDUSD is sideways and swings within the 0.67750 resistance and 0.6560 support levels as seen on the H4 timeframe and the Daily timeframe. Up to half of the wicks were dropped, even though it was closed by a buying bar.
The buying momentum of the price is not yet clearly seen compared to the selling momentum. Forecasting that price May have a more negative direction. As the price of AUDUSD continues to be in a downtrend in both the short and medium term.
Therefore, a correction to continue downwards is very worth watching, especially the support at 0.6560 on the daily timeframe level, which is expected to be the next target for AUDUSD in the event of a decline. And in case of a rally, it is expected that the price may rise slightly at the resistance area of 0.67750.
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On the 9th of March 2023, the Bank of Canada (BoC) released its monetary policy decision to keep rates at 4.50%. In the accompanying statement, the BoC indicated that it expected pressures in product and labour markets to ease as inflation growth signaled a slowdown. It also highlighted that while the BoC was assessing the impact of past interest rate hikes, it would be ready to hike rates again if required to bring inflation down to the 2% target level.
The Candian Median CPI y/y is expected to be released at 4.8% (Previous 5.0%) while Trimmed CPI y/y is expected at 4.9% (Previous 5.1%). If the inflation data is released as expected or lower, this could see the Canadian dollar weaken briefly as the likelihood of future rate hikes from the BoC diminishes. However, the directional bias of the USDCAD would be heavily dependent on the volatility of the DXY.
As the USDCAD trades within a symmetrical triangle pattern, the release of the CPI data could see breakout potential in either direction. If the price trades higher beyond 1.3750 and the 61.8% Fibonacci retracement level could see the USDCAD resume with the uptrend to retest the key resistance level of 1.3860. Alternatively, if the CPI data signals increasing inflation growth, the USDCAD could break the support level of 1.3660 and trade significantly lower, down toward the 1.35 key support level, especially if the DXY continues to weaken.
Adobe Inc. (ADBE) announced its financial results for the third quarter of the fiscal year 2022 before the opening bell in the US on Thursday. The American software company reported revenue of $4.433 billion, falling slightly short of Wall Street forecast of $4.438 billion. Earnings per share reported at $3.40 per share for the quarter, above analyst estimate of $3.345 per share. ''Fueled by our ground-breaking technology, track record of creating and leading categories and consistent execution, Adobe delivered another record quarter,'' Shantanu Narayen, chairman and CEO of Adobe said in a press release. ''Adobe achieved record revenue and strong profitability in the quarter, demonstrating that our products are mission-critical to individuals, small businesses and the world’s largest enterprises,'' said Dan Durn, executive vice president and CFO of the company. ''Our operational rigor combined with our strong engine of innovation are driving growth across our platforms and will fuel future growth as the digital economy continues to expand,'' Durn added.
The company repurchased approximately 5.1 million shares during the quarter. Adobe also announced that it has entered into final stages to acquire Figma, a web-first collaborative design platform for around $20 billion in cash and stock. ''Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,'' ''The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity,'' Shantanu Narayen commented on the acquisition of Figma. Adobe Inc. (ADBE) chart Shares of Adobe were down by around 15% on Thursday, trading at $313.35 a share.
Here is how the stock has performed in the past year: 1 month -29.45% 3 months -15.16% Year-to-date -45.38% 1 year -53.43% Adobe price targets UBS $415 Stifel $500 Baird $450 Deutsche Bank $500 Wells Fargo $425 Mizuho $480 Citigroup $388 Barclays: $440 Adobe is the 70 th largest company in the world with a market cap of $144.34 billion. You can trade Adobe Inc. (ADBE) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD. Sources: Adobe Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap
Salesforce financial results announced Salesforce.com Inc. (CRM) reported its latest financial results for its fiscal second quarter on Wednesday. World’s leading customer relationship management (CRM) company reported revenue of $7.72 billion (up 22% year-over-year) vs. $7.692 billion expected. Earnings per share also topped analyst estimates at $1.19 per share for the quarter vs. $1.03 per share expected. ''We had another strong quarter, with revenue of $7.7B growing 22% year-over-year and 26% in constant currency, showing yet again the durability of our business model,'' Marc Benioff, Chair and Co-CEO of Salesforce said following the latest results. ''And, we’re thrilled to initiate our first-ever share repurchase program to continue to deliver incredible value to our shareholders on our path to $50 billion in revenue in FY26,'' Benioff added. ''Our results demonstrate the strength and diversity of our product portfolio across regions, industries and segments,'' said Bret Taylor, Co-CEO of Salesforce. ''In this more measured buying environment, our Customer 360 portfolio is even more strategic and relevant as our customers focus on productivity, efficiency and time to value,'' Taylor concluded.
The company expects revenue of $7.82 to $7.83 billion for the fiscal third quarter Salesforce.com Inc. (CRM) chart The stock was up by 2.28% at the end of Wednesday’s session at $180.19 a share. The stock fell by around 5% in the after-hours due to future outlook. Here is how the stock has performed in the past year: 1 month -0.16% 3 months +12.75% Year-to-date -29.17% 1 year -30.99% Salesforce price targets Citigroup $189 BMO Capital $223 Mizuho $245 Morgan Stanley $273 Piper Sandler $220 Deutsche Bank $260 JP Morgan $275 Barclays $218 Wells Fargo $235 Salesforce.com Inc. is the 58 th largest company in the world with a market cap of $179.10 billion.
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XAUUSD Analysis 10 – 14 April 2023 The gold price outlook is positive in the medium term. As last week's closing of the buying bar was above the 1960 support or the latest high in price on the Weekly timeframe, it indicates continued buying momentum that will allow the price of gold to recover. It can rise further to test the 2070 resistance level, which is a key resistance at the weekly time frame level or the price level that gold has ever hit the most in history.
But even so, the price of gold remains negative in the short term. There may be a fall to adjust the consolidation or sideways around the 1985 and 1976 support, which are important support levels in the H4 and H1 timeframes that are worth watching. because if the price cannot go down deeper than the above two support levels The direction of gold prices is likely to continue to rise. Corresponds to the large timeframe in the medium term where the price is Up Trend.
And in the event that the price of gold cannot continue to rise, but there is a breakout of the 1985 and 1976 support levels, it can come down with continuous selling pressure. Daytime support at the 1960 price level or the latest price high in the Weekly timeframe are the next targets to watch. AUDUSD Analysis 10 – 14 April 2023 AUDNZD price bears a negative view on the short and medium term.
Due to the continuous decline in the Weekly timeframe, the price is likely to bear down and can continue to fall. After the price has corrected sideways on the Daily timeframe, when looking at the H4 timeframe, a sharp swing of the price can be seen, which is a sideways movement between support 1.06730 and resistance 1.07930. Rara then broke out the support 1.06730 down with a sell candlestick with more momentum than a buy candlestick.
Therefore, it can be expected that Price may continue to decline to retest the support 1.04690 or the previous Low on the Weekly timeframe. GBPUSD Analysis 10 – 14 April 2023 The GBPUSD trend is currently rallying to test the 1.24470 resistance with continued buying momentum as seen by the weekly timeframe buying pressure candlestick, although last week's closing price was truncated. Any intestine dumper Still, the price has yet to show a strong sell candle on the Weekly timeframe, indicating a clear uptrend in both the short and medium term.
Forecasting that price, there is a tendency for the price to correct sideways at the 1.24470 resistance area before rising to test the next resistance at 1.26660 on the daily timeframe level, where the key support is 1.22700, which is the time level support. The H4 frame predicts that the price may retrace to test. If the price cannot stand on the resistance of 1.24470 and continue to rise