Shares of Chevron Corp. CVX, +2.14% rose 0.3% in premarket trading Tuesday into record territory, to put them on track for the longest win streak in 3 1/2 years. The rally comes as oil prices CL00, +2.01% continue their surge to the highest levels in more than a decade as Russia’s invasion of Ukraine and talk of a ban of Russian oil sparks fear of supply shortages. The oil giant’s stock has soared 20.2% over the past seven sessions, and has closed at a record price in each of those sessions. A gain on Tuesday would mark the longest win streak since the nine-day stretch that ended Sept. 25, 2017. Rival Exxon Mobil Corp.’s stock XOM, +3.60% tacked on 0.4% in premarket trading, putting it on track for an eighth-straight gain. That would be the longest win streak since the nine-day streak that ended Jan. 14, 2021. Chevron shares have run up 36.8% over the past three months, enough to make it the biggest gainer among Dow Jones Industrial Average DJIA, -1.93% components over that time. Exxon Mobil’s stock has hiked up 39.5% over the past three months, while the Dow has slipped 8.2%.
