Exxon Mobil (XOM) Stops Trading with Libya

Although Exxon Mobil (NYSE:XOM) jumped out of the blocks today, soaring in earlier trading, it has pulled back in the red, as news they have stopped trading crude oil with Libya, in accordance with sanctions from the U.S.

Also reducing or totally scrapping Libyan business are Marathon (NYSE:MRO) and ConocoPhillips (NYSE:COP).

Over the longer term the oil companies should continue to push up in price, as long as crude prices continue their upward climb.

Exxon was trading at $84.91, down $0.17, or 0.20 percent, as of 1:50 PM EST. Marathon was at $51.09, falling $0.57, or 1.10 percent. ConocoPhillips was trading at $79.23, down $0.74, or 0.93 percent.