Exxon (XOM) rebounds as Iran headline disrupts oil market
A report from Iran's Tasnim news agency on June 1 indicated that negotiations with the U.S. had halted, leading to a sharp rise in crude prices and energy stocks like Exxon Mobil (XOM). Oil futures for West Texas Intermediate rose by nearly 6%, while Brent crude climbed over 4%. This shift reversed weeks of losses for XOM.
Topics: energy_stocks iran_us_relations oil_prices strait_of_hormuz