Oil Stocks Jump as Hormuz Tanker Attack and Hurricane Shut-Ins Squeeze Supply

Financial Times··US·Read original
4▲4 ▼0Impact / 5
Summary · why it matters

Shares of Permian Resources, Granite Ridge Resources, ExxonMobil, and Viper Energy surged after a Gulf tanker attack slowed traffic through the Strait of Hormuz while hurricane-driven production halts shut in Gulf of Mexico output, the Financial Times noted. The resulting supply squeeze lifted Brent crude above $104 per barrel and West Texas Intermediate to $92, according to CNBC. Permian Resources jumped 3.5%, Granite Ridge Resources rose 3.6%, ExxonMobil gained 3%, and Viper Energy climbed 3.9%. Viper Energy's shares have moved more than 5% only three times in the past year, and the stock is up 9.9% year to date but still trades 16.3% below its 52-week high of $50.95 from May 2026. The previous big move came 22 days ago, when the stock dropped 7.6% after the Federal Reserve's interest-rate decision paused an oil rally, with Brent easing 1.1% to $107.61 a barrel, according to the Associated Press.

Impact on assets 4

Energy▲
Granite Ridge Resources Inc
GRNT
▲ PositiveSupplyrelevance

Hurricane-driven Gulf of Mexico production shut-ins and the Hormuz tanker attack squeeze crude supply, lifting oil prices and Granite Ridge shares.

Permian Resources Corporation
PR
▲ PositiveSupplyrelevance

Supply squeeze from Hormuz tanker attack and hurricane shut-ins pushed Brent above $104, boosting Permian Resources shares.

Viper Energy Ut
VNOM
▲ PositiveSupplyrelevance

Oil supply disruption from the Hormuz attack and hurricane shut-ins lifted crude prices, driving Viper Energy shares up 3.9%.

Energy Transition & Power Demand▲
Exxon Mobil Corp
XOM
▲ PositiveSupplyrelevance

ExxonMobil gained 3% as the Hormuz tanker attack and hurricane-driven Gulf output halts tightened crude supply and raised oil prices.