Exxon Mobil is a multinational oil and gas corporation engaged in the exploration, production, refining, and distribution of petroleum and petrochemical products
The company operates in various segments, including upstream operations, which involve the extraction of crude oil and natural gas, and downstream operations, which focus on refining and marketing fuels and lubricants. Additionally, Exxon Mobil invests in alternative energy solutions and technologies, contributing to ongoing efforts to address global energy challenges. With a significant presence in multiple countries, the company plays a vital role in supplying energy and products to meet the demands of consumers and industries worldwide.
Energy sector faces investor scrutiny due to recent developments. ETFs like XLE, VDE, and UNG offer exposure to energy companies amid market uncertainty.
Exxon Mobil shares are trading lower by 6.5% since Monday's open. This week's decline follows a six-month oil price low after a larger-than-expected U.S. crude inventory build.
Chris Wright, the U.S. Secretary of Energy, has granted an extension for the export permit of the Golden Pass LNG project. This project is a collaborative effort between QatarEnergy and ExxonMobil (NYSEXOM) and is currently under construction in Sabine Pass, Texas.
Yesterday, investors around the world were watching closely at the United States which imposed tariffs on its neighbors, Canada and Mexico, shaking up trade dynamics and sending ripples across the financial markets.
