NEW YORK (TheStreet) -- Shares of Exxon Mobil Corp (XOM) are retreating, down 0.28% to $85.11 in midday trading Wednesday, as oil prices continue to slide after having fallen nearly 3% yesterday due to a strong rally in the dollar, Reuters reports.
July Brent crude fell 1.51% to $62.76 a barrel as of 11:17 a.m. ET today, while U.S. crude was also down 0.34% to $57.83 a barrel as of 11:19 a.m. ET.
Irving, Texas-based ExxonMobil is the largest publicly traded international oil and gas company and holds an industry-leading inventory of resources.
The company is the largest refiner and marketer of petroleum products.
Insight from TheStreet's Research Team:
Daniel Dicker commented on Exxon Mobil in a recent post on RealMoney.com. Here is what Dicker, had to say about the stock:
Also notice Exxon Mobil (XOM), in the best possible position to make a monster acquisition, stay unnervingly quiet. It knows prices here do not represent value -- and does not want to make the same mistake it made by buying an overpriced XTO Energy in 2010.
I will watch for Exxon's move. It wants to make one, and I believe it will when the time is right. It isn't -- yet.
- Daniel Dicker, 'Damn the Fundamentals, Full Speed Ahead!, Say Oil Investors' originally published 5/21/2015 on RealMoney.com.
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