Exxon Mobil and Chevron Fall 5%: What Iran’s President Just Did to U.S. Oil Stocks

Exxon Mobil (NYSE:XOM) shares are down 5% in midday trading on Wednesday, and Chevron (NYSE:CVX) shares are also off 5%. The catalyst is hard to miss: reports that Iran’s President is prepared to end the ongoing conflict are unwinding the geopolitical risk premium that had driven oil prices to over $100 per barrel. Both stocks ... Exxon Mobil and Chevron Fall 5%: What Iran’s President Just Did to U.S. Oil Stocks