Shares of energy companies rose as bellicose rhetoric from President Trump buoyed oil prices.
Trump called for unconditional surrender from Iran, and hinted that the U.S. could target Iranian premier Ayatollah Khamenei. Trump reportedly met with national-security advisers in the Situation Room.
Oil futures rose 4%, closing just below the $75-per-barrel level, as traders awaited Trump's choice between a military strike and diplomacy. Any involvement of the U.S. in the Iran conflict could result in major disruptions to energy markets, including the potential closure of the Straits of Hormuz, a chokepoint on global tanker shipping routes.
Exxon Mobil shares rose more than 1%, gaining for the eighth straight session and hitting their highest level since April. It was the longest winning streak for oil drillers since January.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-17-25 1746ET
