The oil giants' 'money-printing machines' have stopped.

Chevron and ExxonMobil attributed their declining profits primarily to falling natural gas prices and shrinking refining margins. Although ExxonMobil’s and Chevron’s stocks have risen approximately 15% and 11%, respectively, this year, investors remain skeptical about the energy sector’s ability to sustain high profitability going forward. Analysts note that Wall Street’s interest in the energy industry has only marginally increased, and investors are adopting a cautious stance toward large-scale investments in energy stocks. First, the energy sector’s weight in the S&P 500 index remains relatively small—currently around 4%. This indicates that, despite recent strong performance of energy stocks, their overall influence on the broader market is limited. Second, America’s largest oil wells are dwindling; U.S. companies have already drilled most of the best prospects, and the U.S. shale oil boom shows signs of peaking. Third, Biraj Borkhataria, an analyst at RBC Capital Markets, points out that one major concern facing the energy industry—particularly traditional oil and gas operations—is its perception as a 'sunset industry.' Global energy transition—from reliance on fossil fuels toward greater use of renewable sources such as wind and solar power—is underway. Many Wall Street analysts worry that fossil fuels’ role in future energy consumption will diminish, and that the long-term shift away from fossil fuels poses a threat to oil majors. Consequently, investors harbor reservations about committing capital to the energy sector over the long term. Oil majors are striving to boost hydrocarbon output, raise dividends, and repurchase shares. Over the past two years, soaring global energy prices propelled record-high profits and dividends for global oil giants ExxonMobil and Chevron, placing them among America’s most profitable companies. Meanwhile, rising oil prices contributed to high inflation, eroding household wealth. Investors flocked to energy stocks as a hedge against inflation and risk, channeling substantial capital into the sector. As a result, energy stocks outperformed nearly all other sectors in the S&P 500 index. Oil companies reaped extraordinary profits, and their share prices hit all-time highs—a veritable energy-sector celebration. For instance, oil prices rose roughly 17% this year, directly propelling ExxonMobil’s stock to a new all-time high in April—briefly surpassing Tesla in market capitalization. Yet the market environment is shifting, and external tailwinds supporting the energy sector are steadily weakening. On one hand, global oil and natural gas prices have stabilized since the Russia-Ukraine conflict. On the other, U.S. natural gas prices have declined continuously from pandemic-era peaks, further squeezing energy-sector profit margins. Analysts note that maintaining high profitability has become more challenging for ExxonMobil, requiring heightened focus on cost control and operational efficiency. In response to declining earnings, both ExxonMobil and Chevron have implemented a series of measures to bolster profitability. These include strategic investments—such as increasing hydrocarbon production and refining capacity—as well as financial maneuvers—including share buybacks and dividend hikes—to offset revenue losses caused by falling prices and narrowing margins, while also seeking new growth opportunities. For example, Guyana represents a bright spot for ExxonMobil.

All three major U.S. stock indices closed higher; natural gas prices surged.

On the news front, data released by the U.S. Department of Commerce on the 16th local time showed that U.S. retail sales in October rose 1.7% month-on-month—the largest increase since March this year. According to reports from CCTV News App, Jack Kleinhenz, chief economist at the National Retail Federation, stated that, due to the impact of the COVID-19 pandemic, U.S. consumers’ spending on goods has remained consistently higher than on services, intensifying pressure on supply chains and contributing to rising goods prices. With the year-end holiday season approaching, consumer spending on goods may continue to rise in November and December. U.S. mega-cap tech stocks posted mixed results: Netflix rose 1.19%, Microsoft rose 1.02%, and Apple rose 0.67%; Facebook fell 1.32%, Google fell 0.39%, and Amazon fell 0.14%. Most U.S. bank stocks closed lower: Morgan Stanley rose 0.51%, and Bank of America rose 0.06%; Citigroup fell 1.47%, Wells Fargo fell 1.37%, JPMorgan Chase fell 0.66%, and Goldman Sachs fell 0.4%. U.S. airline stocks declined across the board: Delta Air Lines fell 3.16%, Boeing fell 3.13%, Southwest Airlines fell 3.09%, United Airlines fell 2.54%, and American Airlines fell 2.36%. Popular Chinese概念股 posted mixed results: Youdao rose 17.44%, I-Mab rose 13.21%, Burning Rock Biotech rose 10.69%, NewO2 rose 10.02%, Li Auto rose 9.75%, XPeng rose 5.28%, and NIO rose 0.22%; Dingdong Maicai fell 10.02%, Douyu fell 8.49%, Wonen Technology fell 8.46%, TouchPal fell 7.62%, and Waterdrop fell 7.58%. In Europe, Germany’s DAX Index rose 0.6% to 16,245.69 points—a new all-time high; France’s CAC 40 Index rose 0.34% to 7,152.6 points—also a new record high; the UK’s FTSE 100 Index fell 0.34% to 7,326.97 points; and Italy’s FTSE MIB Index fell 0.23% to 27,804.93 points.

Oil-Dri Corp of America Stock Hits All-Time High at $79.23

May 27, 2026

Oil-Dri Corp of America shares hit an all-time high of $79.23 following robust Q2 FY2026 results, reflecting strong market confidence despite valuation concerns.

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