ExxonMobil shares fall as crude prices retreat on resilient Saudi exports

  • ExxonMobil shares fell 2.70% to $159.13 on Monday.
  • West Texas Intermediate fell to $98.34, while Brent crude reached $101.75.
  • Saudi exports stabilized near 6 million to 7 million barrels daily this month.

ExxonMobil Corp. shares fell 2.70% to $159.13 on Monday as global benchmark crude prices declined about 2%. West Texas Intermediate dropped below $100 to $98.34 a barrel, while Brent crude fell to $101.75, as resilient Saudi Arabian exports reduced the geopolitical risk premium created by recent Houthi missile strikes near Riyadh. Saudi export volumes stabilized near their standard monthly baseline of 6 million to 7 million barrels per day. The retreat in crude prices pressured ExxonMobil because its upstream cash flows are closely tied to oil realizations, although RBC analysts reaffirmed a $180 price target and cited the company's refining operations as an offset to supply-chain volatility and Middle Eastern exposure. Earlier Gate data identified Brent crude as XBRUSD and reported it at $101.96, down 2.0% from the previous session's close.

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