What Is Going on With Energy Stocks Today?
Energy stocks are once again in focus for investors. There’s a lot going on in this space. And with so many factors at play, it’s hard to gauge the price action in many top energy picks. Shares of Exxon Mobil (NYSE: XOM ), Chevron (NYSE: CVX ) and Marathon Petroleum (NYSE: MRO ) are all higher by about 1% today. After what has seemed like weeks of consistent declines for these top oil producers, we’ve finally seen a day of reprieve. Among the leading factors driving these stocks higher today are energy prices. Crude oil prices are trending higher today, with the price of Brent crude once again moving above $100 per barrel. Despite gas prices having fallen for a month straight, there are some indications we may be seeing some price stability in this volatile sector. One of the key drivers of lower commodity prices is the previously-announced meeting between President Joe Biden and Crown Price Mohammed Bin Salman from Saudi Arabia. This ongoing meeting has been met with anticipation of higher output in the medium-term.
What Is Going on With Energy Stocks Today?
Energy stocks are once again in focus for investors. There’s a lot going on in this space. And with so many factors at play, it’s hard to gauge the price action in many top energy picks. Shares of Exxon Mobil (NYSE: XOM ), Chevron (NYSE: CVX ) and Marathon Petroleum (NYSE: MRO ) are all higher by about 1% today. After what has seemed like weeks of consistent declines for these top oil producers, we’ve finally seen a day of reprieve. Among the leading factors driving these stocks higher today are energy prices. Crude oil prices are trending higher today, with the price of Brent crude once again moving above $100 per barrel. Despite gas prices having fallen for a month straight, there are some indications we may be seeing some price stability in this volatile sector. One of the key drivers of lower commodity prices is the previously-announced meeting between President Joe Biden and Crown Price Mohammed Bin Salman from Saudi Arabia. This ongoing meeting has been met with anticipation of higher output in the medium-term.