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Why ExxonMobil Stock Popped on Friday

TheMotleyFool

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Why ExxonMobil Stock Popped on Friday: https://g.foolcdn.com/editorial/images/755529/1-declining-stock-chart-as-background-to-oil-derricks-at-sunset.jpg

Shares of oil giant ExxonMobil (NYSE: XOM) broke a two-day losing streak on Friday, turning around and moving higher to follow oil prices that are rising in response to positive OPEC news out of Goldman Sachs.

As of 2:30 p.m. ET Friday afternoon, Exxon stock is up 2.6%.

After last bottoming out in late June below $68 a barrel, the price of WTI crude oil went on a wild ride that ended well above $90 in late September -- only to turn tail and plunge thereafter. Through Thursday's close, crude oil prices had plumbed lows last seen in early July and seemed destined to return to June levels -- until today.

Source Fool.com

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