What's Going On With Exxon Mobil (XOM) Stock
Portfolio Pulse from Henry Khederian
Exxon Mobil Corp (XOM) shares fell 2.68% as oil prices dropped over 5% following Israel's assurance to the US that it won't target Iran's oil infrastructure. This decline in crude prices impacts ExxonMobil's profitability, particularly in upstream operations, and signals broader pressure on the energy market.
October 15, 2024 | 7:41 pm
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Exxon Mobil shares fell 2.68% due to a significant drop in oil prices after Israel assured the US it won't target Iran's oil infrastructure. This impacts ExxonMobil's profitability, especially in upstream operations.
The drop in oil prices directly affects ExxonMobil's profitability, particularly in its upstream operations where revenue is generated from oil exploration and production. The broader energy market slump also signals pressure on overall demand and investor sentiment, further impacting ExxonMobil's stock performance.
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