Should Investors Chase the Surge in Exxon Mobil (XOM) Stock?
XOMExxonMobil(XOM) ZACKS·2024-10-04 06:01

Surging back toward its 52-week highs, Exxon Mobil’s (XOM)  stock is starting to turn heads after brewing tensions in the Middle East have spiked crude oil prices to over 70abarrelagain.Outsidethepossibilityofglobaloilsupplychainissues,thereboundinthecommoditypricecomesasOPEC+hadpreviouslyannounceditwoulddelayanyproductionincreasesuntilDecember. AsreportedbyCNN,someanalystsbelievecrudepricescouldsoarto70 a barrel again.Outside the possibility of global oil supply chain issues, the rebound in the commodity price comes as OPEC+ had previously announced it would delay any production increases until December.  As reported by CNN, some analysts believe crude prices could soar to 100 a barrel this month. While this could be worrisome to con ...