Exxon Mobil returns to Houston as oil markets face supply crisis

Exxon Mobil flew from Randolph Air Force Base to Houston Bush Intercontinental on June 19, arriving just before midnight in a 1-hour, 31-minute hop aboard its Gulfstream G650ER, N100A. The short flight from central Texas follows a pattern of quick turnarounds between the company's Spring headquarters and military-adjacent airfields.

The trip lands the same week the Strait of Hormuz reopened after a nearly four-month closure, per CNN Business, but global oil reserves have been depleted by an estimated 1.15 billion barrels. The International Energy Administration's strategic petroleum reserves are at their lowest since 1990, and commercial inventories have hit operational stress levels. Exxon Mobil CEO Darren Woods warned in May that supply disruptions could worsen, as the company reported first-quarter earnings of $4.2 billion, down sharply from prior quarters due to the conflict.

The company's Gulfstream has been busy: a June 18 flight from Washington D.C. to Houston, a June 16 round trip to Istanbul, and multiple shuttles between Houston and the San Antonio area. With oil prices potentially spiking to $160 per barrel, per a Fox Business report citing Exxon Mobil's senior vice president, the executive team is likely huddling in Spring to navigate what comes next.