i_SVG Created with Sketch.

Capital Markets Elite Group is not a registered U.S. broker-dealer. It does not accept a U.S. Person as a client if that person was solicited by Capital Markets Elite Group. (The definition of “U.S. Person” is here.) Capital Markets Elite Group will rely on a certification from a potential customer that the potential customer either is not a U.S. Person or has not been solicited, directly or indirectly, by Capital Markets Elite Group and has not been induced by Capital Markets Elite Group to engage in securities transactions. In particular, they must certify that they were directed to this website by someone other than Capital Markets Elite Group. They must also certify that they understand that they will not be protected by U.S. laws, regulations and supervisory structures applicable to broker-dealers registered in the U.S. and they do not expect such protections to apply. You should give these certifications only if they are true. If you wish to proceed to the website knowing that, please click “Continue” below. Otherwise click “Leave Website”

Leave Website
  • Products
    Products

    Capital Markets Elite Group provides you with a range of online trading and investment products. Learn more about us and our tools to help build your portfolio.

  • Platforms
    Platforms

    View Capital Markets Elite Group’s suite of easy-to-use, powerful and high-tech online stock trading platforms to see which fits your trading needs best.

  • Pricing
    Pricing

    Each product and online trading platform offered by Capital Markets Elite Group has unique features and capabilities with no hidden costs.

  • Services
    Services

    Capital Markets Elite Group offers services in addition to our trading platforms to grow your portfolio and supply you with assistance where you need it most.

  • Company
    Company

    Capital Markets Elite Group is an online brokerage and independent asset management firm that's customer-focused and results-driven. Let us know how we can further support you.

Start Trading
Exxon

Exxon Shares Jump to All Time High as Oil Continues to Climb

Ticker Symbol: XOM

Exxon shares jumped to an all-time high in morning trading as oil prices continued to rise due to a tight market. The company’s stock is up around 73% on a year-to-date basis as West Texas Crude Oil is up 59% in the same period, while Brent Crude is up 56%. Exxon is the largest integrated oil and gas company in the United States. Energy is also currently the top performing sector in the S&P 500 Index for the year. While the index is down 13% for 2022, the energy sector is up 65%.

Russia’s invasion of Ukraine has thrown world commodity markets into turmoil, with surging energy prices benefitting the largest producers globally. Exxon is the fourth largest global producer of oil. Along with being the largest U.S. oil producer, Exxon also benefits from having one of the biggest refining operations in the country.

The company has also benefited from higher margins in its’ refining business. Crack spreads, defined as the spread between the underlying price of crude oil and refined products such as diesel and gasoline, have surged during this year due to limited refining capacity in the U.S. Low inventory levels, relative to this time of the year, has pushed average gasoline prices to all-time highs in the U.S. recently.

Exxon also produced roughly 8.5 billion cubic feet of natural gas in 2021. With Henry Hub Natural Gas prices hitting a 14-year year high recently, the company would also benefit from being one of the lowest cost producers of the commodity in the world. Liquified Natural Gas (LNG) prices are also through the roof, as Western Europe seeks to curtail its dependence on Russian gas.

The company expects higher volumes for the second quarter of 2022 with volume growth from the Permian Basin and Guyana. It also expects favorable lag timing in LNG pricing. Its’ chemical products business should go through routing maintenance and turnarounds but would benefit from higher margins in that vector as well. With oil prices predicted to average roughly $130 a barrel in the second half of 2022, the company should be producing high free cash-flow through all of its’ business around the globe.

This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.