The ebbing of the war premium does not mean the end of the energy bull market. Oil and gas giants' bullish logic is shifting from geopolitical panic to fundamental repair.

According to the Wise Finance APP, despite the recent sharp drop in crude oil futures prices due to the consensus on a peace agreement between the US and Iran, the US oil and gas giant Exxon Mobil (XOM.US) saw little change in Tuesday's US stock market trading and closed up 0.67% by the end of Tuesday. This was mainly because the Wall Street financial giant Bank of America raised its rating on the stock from "neutral" to "buy", with a target price set at $154. According to the Bank of America analyst team, the stock has been experiencing a continuous pullback since mid-May, and its valuation now reflects a much lower pricing level based on long-term Brent crude oil prices of around $65 per barrel compared to current levels. In addition, the downside potential for Exxon Mobil's fundamentals is limited compared to current levels.