What's Going On With Exxon Mobil (XOM) Stock
Portfolio Pulse from Henry Khederian
Exxon Mobil Corp's shares are trading higher due to rising crude oil prices following the U.S. sanctions on two shipping companies for violating the price cap on Russian oil and the Israel-Hamas conflict causing supply uncertainty. The West Texas Intermediate crude oil price surged by over 3.5%, surpassing the $85 per barrel mark. Exxon Mobil, as an energy company, benefits from rising oil prices and supply disruptions as it can sell its oil and gas products at higher prices.
October 13, 2023 | 2:19 pm
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Exxon Mobil's stock is likely to benefit from the rising oil prices and supply disruptions caused by geopolitical tensions. The company can sell its oil and gas products at higher prices, leading to increased revenues and potentially higher stock prices.
The rising oil prices due to geopolitical tensions and supply disruptions are beneficial for Exxon Mobil. As an energy company, it can sell its oil and gas products at higher prices, leading to increased revenues. This can potentially lead to higher stock prices for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100