Oil prices have now hit a 4-month high in the US, following an escalation in tensions between the U.S. and Iran. West Texas Intermediate (WTI) crude oil, the U.S. benchmark, is trading at $62.97 a barrel, while Brent crude, the international standard, is trading at $68.12 per barrel, both at four-month highs. The rise in crude prices comes after U.S. President Donald Trump threatened to attack Iran, urging Tehran to negotiate a nuclear deal with America.

“Hopefully Iran will quickly ‘Come to the Table’ and negotiate a fair and equitable deal,” Trump said in a social media post, adding that “the next attack will be far worse!” than the one that took place last year when America bombed Iranian nuclear facilities. CVX stock and XOM stock both fell as much as 2% before ending the trading session up a fraction of a percent.

Furthermore, Chevron (CVX) and fellow oil giant Exxon Mobil (XOM) are both set to report their Q4 2025 earnings later this week. Lower commodity prices are expected to weigh on the Q4 results of energy companies. Chevron (CVX) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2025. CEO Mike Wirth and CFO Eimear Bonner are also set to speak, the company said in a statement. Investors will be eyeing the February 1 OPEC+ meeting for clues on March production targets and updates on Kazakhstan’s ramp-up plans.

The stock of Chevron has a consensus Strong Buy rating among 20 Wall Street analysts. That rating is based on 16 Buy and four Hold recommendations issued in the last three months. The average CVX price target of $179.90 implies 5.97% upside from current levels. Meanwhile, Analysts are generally optimistic about ExxonMobil’s potential, with multiple firms maintaining an Overweight rating. Piper Sandler has set the highest price target at $142.00.