Geopolitical tensions in the Middle East could drive oil prices as high as $120 per barrel according to JP Morgan, benefiting Exxon Mobil's earnings outlook. Applying the Graham Number, Exxon Mobil's intrinsic value ranges from $103 to $134 per share, depending on EPS scenarios.

Crude oil surged 13% intraday as Middle East tensions disrupt supply. WTI and natural gas hold gains with key levels now guiding market sentiment.

Richard Yetsenga, Group Chief Economist at ANZ Research, shared his insights on oil, trade, and the geopolitical forces shaping global markets.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

Rising Middle East tensions have driven oil prices higher, potentially boosting Texas Pacific Land's future earnings. Read why TPL stock is a hold for now.

By Saqib Iqbal Ahmed, Suzanne McGee and Linda Pasquini NEW YORK/GDANSK (Reuters) -Investors were on edge ahead of markets reopening late on Sunday, gripped by anxiety over nationwide protests against President Donald Trump and the escalating threat of a sweeping conflict in the Middle East.