U.S. Sanctions Against Russia Causing Concern With Big Oil
Shares of the major integrated oil producers traded lower Monday following news that Exxon Mobil Corporation (NYSE: 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: $94.43, down 1.05 percent.
- Chevron Corporation (NYSE: CVX): $120.55, down 0.76 percent.
- ConocoPhillips (NYSE: COP) $77.84, down 0.36 percent.
- Occidental Petroleum Corporation (NYSE: 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 Monday.
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