Exxon Mobil (NYSE: XOM) announced it would suspend its Russia oil & gas operations, leaving over $4 billion in assets behind, according to its latest annual report.
The move comes just a couple of days after oil & gas giants BP (NYSE: BP), Equinor ASA (NYSE: EQNR), & Shell cut ties with Russia.
Oil prices don’t seem to be slowing down
Crude oil prices are surging. Brent crude, the most popular indicator for global oil prices, now stands at over $110/barrel, its highest in years.