Why ExxonMobil Stock Jumped Nearly 2% Today

Shares of energy giant ExxonMobil (NYSE: XOM) were up 1.9% today as of 2:55 p.m. ET. For comparison, the S&P 500 index was sporting a 1.3% decline. Oil and energy stocks in general were beating the market thanks to a nearly 2% jump in oil prices on the day.

Typically sleepy ExxonMobil has turned into a hot stock in the last year as energy prices surge due to a reopening global economy. Shares of the integrated oil major are up nearly 50% so far in 2022 and have been more or less trading in tandem with oil prices in the last year. With the cost of energy on the rise again as the busy summer travel season begins, ExxonMobil and other energy stocks have been offering some reprieve from an otherwise tumultuous year for the stock market overall.

Source Fool.com