Exxon Shares Hit Record High as Energy Sector OutperformsÂ
- Supermajor is top-performing S&P 500 energy equity since June
- New high comes despite 29% slide in crude oil prices
Photographer: Andrew Harrer/Bloomberg
This article is for subscribers only.
Exxon Mobil Corp. hit an intraday record high as investors pile into energy equities, undeterred by a recent slump in oil prices.
Shares surged 2.2% to a high of $106.16 Friday, extending a five-day rally. Energy equities were the market’s top-performing sector. Exxon is re-testing highs the supermajor hit June 8, when West Texas Intermediate oil prices stood at $122 a barrel.