ExxonMobil Stock Pulled Back 15%. Is It Time to Buy the Dip?

Since March, the conflict in Iran has driven oil prices through the roof, with Brent crude skyrocketing to over $120 per barrel in late April. This surge has propelled oil stocks, including oil and gas giant ExxonMobil (NYSE: XOM), which rose as much as 13% in March alone.Oil prices have subsided in recent weeks amid a fragile ceasefire, and oil stocks have followed. However, even if the conflict ends soon, there are discussions that reopening the Strait of Hormuz, a critical oil shipping channel for the Middle East, might not be straightforward.With oil trading around $100 per barrel and ExxonMobil down 12% from its recent high, now might be the time to buy the dip. Here's why.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool