By Josh Beckerman

 

Exxon Mobil Corp. was down 5% to $83.12 as oil prices declined Tuesday, while Chevron Corp. was 5% lower at $139.68.

Marathon Oil Corp. fell 8% to $20.74. On Tuesday, Goldman Sachs lowered its Marathon price target to $25 from $29.

Contracts for Brent crude were recently down 10% to $102.33. The decline has been attributed to factors including concerns about a potential recession after recent data on consumer spending and industrial orders.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

July 05, 2022 13:29 ET (17:29 GMT)

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