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British oil giant BP posted underlying replacement cost profit, used as a proxy for net profit, of $1.4 billion for the first three months of the year. That missed analyst expectations of $1.6 billion, according to an LSEG-compiled consensus.
WTI oil remains under bearish pressure, while natural gas has found strong support at $3.
Crude oil prices fell in early Asian trading on Tuesday as investors lowered their demand growth expectations due to the ongoing trade war between the United States and China, the world's two biggest economies.
Oil declined. “Recent developments in U.S. trade policy as well as the escalating tit-for-tat between U.S.-China on the trade front do not bode well for global growth,” OCBC said.
Harold Hamm, a shale billionaire and significant donor to President Donald Trump, said his company Continental Resources is committing to only buy oilfield equipment made in the US even if it costs more. He speaks with Alix Steel in a Bloomberg Television interview.
Oil markets are losing ground as traders focus on U.S. – China trade war.
The basing pattern continues to see a lot of back and forth, as it looks like we are going to continue to build a bit of a base for an attempt to rally from here. Oil was oversold, so this attempt makes a certain amount of sense.
Daan Struyven, Goldman Sachs co-head of global commodities research, joins 'Squawk Box' to discuss the state of the commodities market, oil market demand and production, growth outlook, and more.
Crude oil analysis points to bearish pressure today, with China stockpiling, OPEC production risks, and trade tensions fueling market uncertainty.
When Exxon Mobil and Chevron report first-quarter results this week, investors will be focused on how falling oil prices have increased the risk to dividends and share repurchases for the rest of 2025.