WTI Crude at $100/Barrel: ExxonMobil, CVX & COP to Benefit

West Texas Intermediate (WTI) crude is hovering around the $100-per-barrel mark due to ongoing tensions in the Middle East. This high price environment is expected to continue supporting ExxonMobil's exploration and production activities, which generate most of its earnings.

The company has a significant presence in the Permian Basin, the US's most prolific oil and gas play, as well as offshore Guyana. In the Permian, ExxonMobil employs new drilling techniques and artificial intelligence to boost and optimize production volumes at lower cost structures.

ExxonMobil also has made several oil and gas discoveries in Guyana, which further supports its solid production outlook. The company's robust production from both assets is aiding its top and bottom lines, with breakeven costs being low.

Likewise, Chevron Corporation (CVX) and ConocoPhillips (COP) are expected to benefit from the ongoing strength in oil prices. ConocoPhillips generates a significant proportion of revenues from crude oil, making high prices extremely favorable for the company.