US Sanctions Against Russia Causing Concern with Big Oil

Shares of the major integrated oil producers traded lower today following news that Exxon Mobil XOM is suspending operations with Russian state-owned oil company Rosneft due to sanctions. Shares of other major integrated oil companies fell in concern, with share prices reflected below: Exxon Mobil XOM: 94.43 down 1.05 percent Chevron CVX 120.55 down 0.76 percent Conoco Phillips COP 77.84 down 0.36 percent Occidental Petroleum OXY 97.23 down 1.14 percent The drop in oil producers came despite a rally of nearly 1 percent in the price of crude oil on the day.