Brent crude for August delivery, the worldwide benchmark, rose to $115.71 a barrel on ICE Futures Europe, the highest it had been since Sept. 9 of last year, after Obama's remarks. Prices had already risen after workers at the largest oil refinery in Iraq said Sunni militants had taken control of the majority of the refinery.
The stock was up 1.04% to $103.70 at 9:53 a.m.
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Separately, TheStreet Ratings team rates EXXON MOBIL CORP as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXXON MOBIL CORP (XOM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: