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Exxon Holds Steady as Iranian Oil Exports Drop and Tighten Supply

Exxon Mobil logoExxon Mobil
Sig0.90Sen+0.60Env0.00Soc0.00Gov0.00

Exxon Mobil shares were little changed near $166 as Iranian exports fell sharply, tightening Gulf supply and keeping Brent around $94. Iranian shipments dropped to about 534,000 bpd versus a 1.4 million average earlier, while floating storage fell. The supply shock supports upstream pricing, though costly energy could revive inflation and weaken demand.

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