Why Shares of Exxon Mobil Are Trading Lower Today

Exxon Mobil Corp. XOM shares are trading lower this morning amid a drop in oil prices. Oil has pulled back following a recent rise in US gasoline inventories. Economic uncertainty has also pressured demand outlook and weighed on energy prices.  

What Else? 

Additionally, the EU Commission has recently called on its member states to reduce gas usage by 15% amid concerns Russia could further cut supply through the Nord Stream 1 pipeline.  

A vote on the proposal is set for July 26. 

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Exxon Mobil is an integrated oil and gas company that explores for, produces and refines oil around the world.

Price Action: Shares of Exxon Mobil are trading 2.19% lower at $87.29 during today’s pre market session. 

Photo: Courtesy of Zbynek Burival on Unsplash