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Why ExxonMobil Stock Dropped on Friday

TheMotleyFool

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The Strait of Hormuz is open for business! That's good news for many investors, and the S&P 500 is up 1.2% as of 11:35 a.m. ET.

It's less good news for ExxonMobil (NYSE: XOM) stock, however. Shares of the oil giant fell 5.3% through 11:35 a.m. ET, as investors began pricing in the prospect of lower oil prices.

Image source: Getty Images.

Source Fool.com

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