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Benzinga
Benzinga
Business
Henry Khederian

Here's Why BP And Exxon Mobil Shares Are Rising

British Petroleum Exxon Mobil NYSE United States European Union Exxon Mobil Corp Russia XOM

Shares of several companies in the energy sector, including BP plc (NYSE:BP) and Exxon Mobil Corp (NYSE:XOM), are trading higher amid a rise in oil prices as EU nations consider joining the US in a Russian oil embargo and after an attack on Saudi oil facilities over the weekend.

BP and Exxon Mobil shares are trading higher by 8.8% and 28.3% respectively on a year-to-date basis amid continued momentum and an increase in the price of oil. Energy names have been volatile amid the Russia-Ukraine conflict, which has lifted oil and gas prices due to supply concerns.

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