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Oil Prices Fall, Sector Pulls Back: Time to Buy this Stock?
XOMExxonMobil(XOM) MarketBeat·2024-10-18 12:30

The energy sector and WTI crude oil prices spiked following the escalation in the Middle East after Iran launched a missile attack on Israel earlier this month. Initial fears of conflict disrupting global oil supplies, mainly through the vital Strait of Hormuz. This drove a rally across the energy market. However, with signs emerging that Israel will not retaliate by targeting Iranian oil fields, tensions have eased, and the sector has experienced a pullback.Over the past week, WTI crude prices fell from ne ...