3 US Stocks That Move With Oil Prices

Oil prices surged past $100 per barrel as the Iran conflict and Strait of Hormuz disruptions reshape global energy flows. The surge has taken a breather for now, with Brent Crude hitting $97 at press time. But the discussions related to oil prices are no longer limited to the commodities market. Even US stocks respond to these volatile barrels.

But not every stock responds to oil the same way. BeInCrypto analysts identified three US equities on different sides of the oil trade, each with a distinct technical setup that could define their next move.

ExxonMobil (NYSE: XOM)

The ExxonMobil stock price has been one of the clearest beneficiaries of the 2026 oil rally. The stock trades near $161, within striking distance of its all-time high at $162. The rally is not just oil-driven. Exxon’s production is concentrated in the Permian Basin and Guyana, both in the Western Hemisphere, meaning it benefits from higher global prices without direct exposure to Hormuz supply disruption risk.

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Golden Pass LNG’s first cargoes arriving in Q1 2026 add a new high-margin revenue stream at the exact moment global energy supply is tightest.

BeInCrypto analysts previously identified a bull flag pattern on the daily chart. That breakout confirmed on March 12 as rising oil prices provided the catalyst.

Since then, XOM has moved steadily toward its first resistance near $163. If that level clears, the 0.618 Fibonacci target at $173 comes into focus, followed by $180 and $189. The stock currently trades above all four key Exponential Moving Averages (EMAs), indicators that smooth price data to identify trend direction, including the 20, 50, 100, and 200-day.

A deeper pullback would find a floor near the 20-day EMA at $154. If oil corrects, $147 has acted as strong structural support throughout 2026.

Delta Air Lines (NYSE: DAL)

While ExxonMobil benefits from rising oil prices, Delta Air Lines’ stock price sits on the opposite side of the trade. Jet fuel is the airline’s single largest operating cost, and when oil surged following the start of the Iran conflict, DAL dropped from a February high near $76 to a low of approximately $55 by early March, a roughly 27% correction.

However, the recovery has been equally aggressive. Since the March low, DAL has rallied approximately 20%, reclaiming all four key Exponential Moving Averages (20, 50, 100, and 200-day) on the daily chart. The last time DAL traded above all four EMAs was on February 2, and the stock subsequently rose roughly 12%. A similar reclamation is now in play, and only the 50-day line needs to be cleanly claimed, above $65.

The Fibonacci retracement from the $76 high to the $55 low places the 0.5 level at $65, which DAL is currently testing. It lost the $65 zone in the most recent session despite strong intraday gains, making that the nearest resistance to reclaim. Above $65, the 0.618 Fib at $68 becomes the key hurdle.

A break above $68 opens the path toward $71 and ultimately a retest of the $76 February peak. On the downside, $63 and $60 provide support. If de-escalation in the Iran conflict materializes and oil prices retreat, DAL would likely be among the first stocks to benefit, given its direct inverse correlation with crude prices.

Devon Energy (NYSE: DVN)

The Devon Energy stock price has been the most aggressive mover of the three, rallying approximately 45% since early January. The catalyst is twofold.

Rising oil prices are the obvious driver, but Devon also carries a merger catalyst that the other two stocks lack. The Coterra Energy acquisition, expected to close in Q2 2026, will create the largest oil and gas exploration and production company focused on the contiguous US. The deal targets $1 billion in annual pre-tax synergies, and the post-merger dividend is expected to increase by roughly 31%.

The daily chart shows DVN consolidating inside what appears to be a flag pattern after the 45% surge, similar to the bull flag that ExxonMobil already broke out of. The key floor sits at $46. If that holds and the upper trendline breaks near $49, the measured move targets approximately $59, a roughly 20% rally from the possible breakout zone.

Intermediate resistance sits at $51 and $54. The longer-term projection points to $67 if oil prices remain elevated and the merger closes on schedule. On the downside, a break below $46 would weaken the flag structure. Then $43 and $41 come in as the next support zones, where a de-escalation-driven oil correction could push the stock.

Even if de-escalation triggers an oil pullback, the Coterra merger catalyst in Q2 could provide Devon with a support floor that purely oil-driven stocks would lack.

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