ExxonMobil (XOM), a 156-year-old oil and gas corporation based in Texas, has evacuated non-essential staff from its Middle East operations due to escalating tensions in the Middle East and the U.S.-Israel war with Iran. The company's CEO, Darren Woods, stated that the move was primarily about employee safety and not essential to the operations. The disruption of the Strait of Hormuz, a narrow passage that carries roughly one-fifth of the world's oil supply, could disrupt oil shipping routes. ExxonMobil has also begun scaling back certain operations in the region due to shipping disruptions. The Middle East still plays a significant role in ExxonMobil's global operations, accounting for around 20% of its oil, gas output and nearly 60% of liquefied natural gas business there. Despite these disruptions, Exxon's stock performance has been strong, with shares of the company still expected to continue rising due to rising oil prices. Despite this, some analysts now view the stock as fairly valued after its strong run.