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Exxon Mobil (XOM) Stock Pressured by Plunging Oil Prices

NEW YORK (TheStreet) -- Exxon Mobil (XOM - Get Report) stock is falling by 1.95% to $73.23 in afternoon trading on Monday, as oil prices continue to decline.

Crude oil (WTI) is plummeting by 5.25% to $31.42 per barrel and Brent crude is diving by 6.05% to $31.52 per barrel this afternoon, according to the CNBC.com index.

Oil prices hit fresh 12-year lows today as further declines in China's markets exacerbate concerns about oil demand from the world's second largest oil consumer.

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A sharper devaluation of the yuan could push oil prices toward $20 to $25 per barrel, according to Morgan Stanley, Reuters reports.

Exxon Mobil is an energy company based in Irving, TX.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based...


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