Exxon Mobil Corp is trading 3.2% down at $142.25 in pre-market as the energy sector faces pressure from both cooling M&A speculation and a sharp retreat in crude prices.
- Woodside Energy officially denied being in takeover talks with the company, tempering recent market optimism fueled by Bloomberg reports regarding potential deal activity.
- Brent crude fell more than 4% following reports of a U.S.–Iran peace deal, which has significantly eased global supply concerns.
- The stock is notably underperforming a broadly higher equity market, as risk-on sentiment in other sectors fails to offset the drag on energy names.