Exxon Mobil (XOM) Falls as Oil Prices Drop

Oil as gas prices fell Wednesday, dragging many energy companies like Exxon Mobil (NYSE:XOM) down with them.

Brent crude settled down $5.06 at $112.57 a barrel, while U.S. crude futures dropped $5.67 to settle at $98.21.

Natural gas for June delivery settled 6.5 cents, or 1.5%, lower, at $4.181 per million British thermal units on the New York Mercantile Exchange.

The U.S. Oil Fund (USO) dropped 4.2 percent to closed at $39.35, the Energy Select Sector SPDR Fund (XLE) was down 2.9 percent to close at $74.28, and the U.S. gasoline fund LP (UGA) plunged 6.4 percent to close at $51.44.

Exxon Mobil Corporation participates in the exploration and production of crude oil and natural gas, and manufacture of petroleum products, as well as transportation and marketing of crude oil, natural gas, and petroleum products.

Exxon Mobil (NYSE:XOM) closed Wednesday at $81.12, down $1.75, or 2.11 percent.