Exxon Mobil: Iran’s Attack On Israel Creates Short-Term Tailwinds

Summary:

  • Rising tensions in the Middle East created additional tailwinds and have driven Exxon Mobil’s stock to all-time highs, but the momentum may be short-lived.
  • Long-term upside is not guaranteed as non-OPEC production continues to rise, and Saudi Arabia may abandon production quotas, potentially leading to lower oil prices.
  • Despite recent gains, Exxon Mobil’s stock is a HOLD for me.

Iran and Israel two flags together textile cloth fabric texture

Oleksii Liskonih

In the last week, oil prices have rallied, and Exxon Mobil Corporation’s (NYSE:XOM) shares appreciated to all-time highs after Iran attacked Israel with ballistic missiles. The rising tensions in the Middle East constantly cause oil price volatility, since any


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