Exxon, Chevron Clock Best Month Since 2022 as Crude Surges

Shares of US oil giants Exxon Mobil Corp. and Chevron Corp. notched their largest monthly gains in more than three years, boosted by rising energy prices, geopolitical tensions and improving fundamentals.

Exxon is up 18% in January and Chevron higher by 16% — the best monthly performance for both companies since October 2022. The robust moves come alongside an upswing in oil prices and a broader rally that has made energy stocks the top performing sector in the S&P 500 Index so far this year.