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Exxon Surges on $90 Oil but Faces White House Freeze-Out

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The Story

News Summary

  • Exxon Mobil rose to $160 as Brent crude crossed $90 per barrel.
  • However, the company was excluded from a White House refiners meeting following disagreements over Venezuela, while peers secured seats.
  • Stretched valuation and political friction balance out strong cash flow gains from higher oil prices.
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