XOM, CVX, VLO: Macro Backdrop A Disaster For Crude Prices

The macro backdrop has become a disaster for crude prices, notes Ed Moya. He and Allen Good examine the energy sector. They talk about how Exxon Mobil's (XOM) earnings report which will be released Friday, April 28th, premarket. They compare XOM to other energy stocks including Chevron (CVX), Valero (VLO) Marathon Petroleum (MPC), and Conocophillips (COP). They then go over which energy stocks are the best positioned in the current market. Ed mentions that the economy is weakening but isn't falling off a cliff. Allen highlights that ESG investing and capital allocation is weighing on European oil valuations. Tune in to find out more about the stock market today.