On Friday, Shares of Exxon Mobil Corporation (NYSE:XOM), lost -3.27% to $72.13, hitting its lowest level, as U.S. oil futures on Friday settled below $41 a barrel for the first time since the Great Recession to suffer an eighth straight weekly loss—the longest streak of weekly losses since 1986, according to Market Watch.
Prices sank to intraday lows under $40 after data from Baker Hughes BHI, showed that the number of active U.S. oil drilling rigs rose 2 to 674 as of Aug. 21. Market Watch Reports
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania.
Shares of Fifth Third Bancorp (NASDAQ:FITB), declined -3.20% to $19.81, during its last trading session.
Fifth Third Bancorp declared that Heather Russell Koenig will become its chief legal officer and corporate secretary and will be joining the Company on Sept. 28, 2015. Koenig will report to Greg D. Carmichael, president, who becomes CEO on Nov. 1, 2015. Koenig’s responsibilities will comprise overseeing Legal, Government Affairs and Regulatory Affairs.
Koenig joins Fifth Third from Bank of New York Mellon, where she was a member of the company’s Operating Committee and led its global Office of Public Policy and Regulatory Affairs. She also served as global chief regulatory counsel and counsel to the Risk Committee of the Board of Directors.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors.
Finally, SandRidge Energy, Inc. (NYSE:SD), ended its last trade with -5.06% loss, and closed at $0.45, hitting its lowest level, as oil plunged below $40 a barrel in New York for the first time in more than six years, extending the longest decline since 1986 on concern slower demand growth will prolong a global glut, according to Bloomberg.
Prices have tumbled almost 35 percent since this year’s highest close in June as producers pump away even after an oversupply pushed prices into a bear market. West Texas Intermediate may drop to $32 on the persisting surplus, Citigroup Inc. said Wednesday. Meanwhile, concern that China’s economy will slow enhances expectation that demand will wane. Bloomberg Reports
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services. The Exploration and Production segment explores for, develops, and produces oil and natural gas properties; and operates wells.
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