Why ExxonMobil Group Stock Bumped Higher Today
A fresh geopolitical crisis in the world's most important oil-producing region boosted the share prices of major oil companies on Monday, and ExxonMobil (NYSE: XOM) was no exception. The stock ended up coasting slightly higher than the essentially flat S&P 500 index with a gain of just over 1% that trading session.
Unrest in the Middle East, the world's most important oil-producing region, often raises concerns that oil prices will spike. That, naturally, can improve key fundamentals for major global suppliers like ExxonMobil and its peers.
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Source Fool.com
