XOP Stock Recent News
XOP LATEST HEADLINES
The crude oil market has gone back and forth yet again in early Wednesday trading, as the market is in the process of trying to form some kind of bottoming pattern. Ultimately, I am bullish, but I also recognize we have a long way to go.
Crude oil prices rise as Israel-Iran tensions spark supply fears; traders eye 50-day average for bullish confirmation.
Behind OPEC+'s plan to ramp up oil output and punish over-producing allies, group leaders Saudi Arabia and Russia are pushing a second objective: taking on U.S. shale production to win back market share from the United States.
Middle East tensions and unexpected U.S. crude builds push oil and gas markets into high-alert mode. Technical levels now critical.
Oil climbed following a CNN report that new US intelligence suggests Israel is preparing for a potential strike on Iranian nuclear facilities. Oil has been volatile since last week on mixed headlines about the fate of Iran-US nuclear talks.
CNBC gets exclusive access to Adnoc's Umm Lulu platform, an engineering feat built in the United Arab Emirates under the "Make it in the Emirates" initiative. The offshore facility can process up to 135,000 barrels a day, supporting Abu Dhabi's push to localize industry and boost output.
Crude oil prices rose Tuesday night, following a report that Israel is gearing up for a possible strike against Iran's nuclear facilities.
Oil prices jumped more than 1% on Wednesday after reports Israel is preparing a strike on Iranian nuclear facilities, raising fears that a conflict could upset supply availability in the key Middle East producing region.
Oil gained in the early Asian session on fading optimism over U.S.-Iran negotiations regarding the latter's nuclear program.
I reiterate my buy rating on XOP due to its compellingly low PEG ratio and undervaluation despite recent underperformance and weak oil prices. XOP offers a strong total shareholder yield above 7%, combining dividends and buybacks, with a notably high dividend payout in 2024. The ETF's diversified, small-cap value tilt, and low concentration risk enhance its appeal, even as seasonal trends and technicals remain mixed.