Key Highlights

  • A reported US-Iran proposal trading IAEA inspections for sanctions relief is unconfirmed and single-recap, yet oil fell 1.2% to 1.3% on Thursday, which matters for Energy Select Sector SPDR Fund (NYSEARCA:XLE).
  • Exxon Mobil (NYSE:XOM) is expected to report on Friday, October 30, 2026, with consensus EPS of USD 3.96, according to one earnings calendar page. The figure is unverified, and the article should be redone as results.
  • Chevron (NYSE:CVX) has a consensus of USD 4.78 for Friday, October 30, 2026, while Brent trades between USD 110 and USD 115, about USD 40 above its level before the Iran war began in late February.
  • Shell (NYSE:SHEL) reports today, October 29, 2026, with a consensus of USD 3.25, which gives an early read-through before the American supermajors report. The figure comes from one calendar page and is unverified.

Energy Select Sector SPDR Fund (NYSEARCA:XLE): The Reported Iran Proposal

A new US-Iran proposal was reported on October 28, 2026, said to trade International Atomic Energy Agency inspections for sanctions relief and the release of frozen funds. Qatar is reportedly waiting for Iran's reply, which could come as soon as Thursday. A senior US official reportedly said the US will not attack Iran before the midterm elections on November 3. All of this rests on a single recap, with no official statement retrieved, so every element is reported and unconfirmed. Oil fell 1.2% to 1.3% on Thursday, which suggests traders are weighing the report. Energy was the third-best sector on October 28, up 0.35%, and Energy Select Sector SPDR Fund (NYSEARCA:XLE) is the sector fund most exposed to that swing. Oil is the swing factor for energy earnings, and sanctions relief could bring more Iranian supply to market over time, which would add to downward pressure. Energy Select Sector SPDR Fund holds large producers whose profits track oil prices, though no fund move was verified here. Talks can collapse, and a failed exchange could send oil higher again.

Exxon Mobil (NYSE:XOM): The First Full Read at USD 110 Oil

Exxon is expected to report on Friday, October 30, 2026, with consensus earnings per share of USD 3.96 on one earnings calendar page, and no revenue or production expectations were retrieved. Published market data conflict on oil prices: Brent settled at USD 115.32 on October 28 against Thursday quotes of USD 110.3 to USD 110.7, and WTI at USD 102.78 against USD 101.4 to USD 101.6. Either way, Brent is about USD 40 above its level before the Iran war began in late February, when it was roughly USD 72 according to one recap. Producers such as Exxon Mobil (NYSE:XOM) earn more per barrel when prices rise, but realized prices lag spot, and refining margins and costs also move results. The prices explain why the group is closely watched. Chevron has a consensus of USD 4.78, as do AbbVie at USD 3.76 and Regeneron at USD 13.76 on the same Friday, so the day is crowded with results. Realized prices lag spot, and refining margins and costs also move results, so Brent near USD 110 does not translate one-for-one into earnings. Watch Chevron commentary on production and capital spending.

Chevron (NYSE:CVX): Friday's Report Alongside AbbVie and Regeneron

Chevron is expected to report the same day as Exxon, with a consensus of USD 4.78 from the single calendar page. AbbVie (NYSE:ABBV) is at USD 3.76 on Friday. Regeneron (NASDAQ:REGN) is at USD 13.76, so the day is crowded. All figures are unverified and results were not out when this was written. Fed officials cite energy as an inflation risk, and the Fed held at 3.75% to 4.00% on October 28 with December hike odds near 81% to 85%. September PCE inflation lands at 7:30 a.m. ET on October 29 and may show how much energy has fed into prices. If a deal eased the oil shock, prices could fall, which would help inflation but weigh on producers. Chevron (NYSE:CVX) commentary on production and capital spending will show how management sees the outlook. Shell reports today, October 29, with a consensus of USD 3.25, which gives an early read-through for the American supermajors before their Friday releases. Any comment on production, capital spending and shareholder returns will be compared with what Exxon and Chevron say tomorrow. The consensus figure comes from the single calendar page and is unverified.

Shell (NYSE:SHEL): Today's Early Read-Through

Shell reports today, October 29, 2026, with a consensus of USD 3.25, which makes it the first major energy company to give a view on the quarter. Its results come before Exxon and Chevron on Friday, so investors will compare what it says about production, margins and returns with what the American companies later report. The consensus figure comes from one calendar page and is unverified, and revenue and production expectations were not retrieved. Oil quotes conflict by up to USD 5 between sources, so any single price should be treated as approximate. Watch the Iran reply that Qatar awaits, since a deal could pull prices lower quickly while a collapse in talks could push them back up. For Shell (NYSE:SHEL), the headline will matter as much as the figures. The main risk for the group is a sharp oil reversal on diplomacy, which could cut earnings expectations quickly. Brent and WTI conflicts of up to USD 5 between sources mean any single price should be treated as approximate. Energy was the third-best sector on October 28, up 0.35%, so a fall in oil would test that strength.

Where Things Stand

Oil is the common thread, because the Iran war that began in late February has kept Brent about USD 40 above its prior level, and a reported US-Iran proposal has trimmed prices without settling anything. Energy Select Sector SPDR Fund (NYSEARCA:XLE) would feel a deal most directly. Shell (NYSE:SHEL) reports today. Exxon Mobil (NYSE:XOM) follows on Friday. Chevron (NYSE:CVX) reports the same day. The evidence is limited to unverified consensus figures, conflicting oil quotes and an unconfirmed report. The next catalysts are Shell, any Iran reply through Qatar and the Friday releases.