ExxonMobil Stock Falls Amid Decline in Oil Prices Following Strait of Hormuz Opening
ExxonMobil (XOM) stock dropped 5.3% as oil prices fell sharply following the opening of the Strait of Hormuz. WTI crude oil dropped 13% and Brent crude fell nearly 12%, with Brent now below $88 per barrel. The development was confirmed by Iranian Foreign Minister Seyed Abbas Araghchi and supported by President Trump.
Tickers: $XOM
Topics: Geopolitical Tensions Iran Market Reaction Oil Prices Strait of Hormuz