XOM May Lag Spot Oil
"With wholesale oil and pump prices spiking (gas up ~21% month-over-month), integrated oil majors like Exxon stand to benefit from higher commodity prices and pump margins in the near term."
"I'm seeing short-term weakness in XOM despite higher spot oil, as end-of-quarter rebalances and a futures curve that discounts the spot spike suggest producers may lag near-term oil moves."