Oil Stocks Rise as Trump Prepares to Return to Presidency

KEY TAKEAWAYSU.S. oil company stocks rose Wednesday, with former President Donald Trump, viewed as a big backer of increased oil supply, set to return to the White House.Shares of ExxonMobil, Chevron, Diamondback Energy, ConocoPhillips, and Halliburton rose, among others.Crude futures edged lower as the prospects of increased supply weigh on an existing glut in oil and a weak outlook for demand, especially given China's slowing economy. U.S. oil company stocks rose Wednesday, with former President Donald Tr ...