ExxonMobil and Chevron reported significant profit increases in Q2 driven by higher oil prices linked to the Iran war. Chevron's net income jumped nearly 400% to $12 billion, surpassing earnings expectations, while ExxonMobil doubled its profits to $14.5 billion but slightly missed earnings per share estimates. U.S. crude prices rose 27% to an average of $92.45 per barrel, boosting production and exports, especially for Chevron, which hit record U.S. output levels. The strong results reflect ongoing supply disruptions in the Middle East and continued global demand for oil.
Exxon Mobil reported a strong Q2 2026 with profits surging to $14.5 billion, more than double the previous year, driven by higher oil prices and improved refining margins amid geopolitical tensions. However, adjusted earnings per share came in at $3....
US stock futures point to a strong start with Dow Jones up 1.1%, S&P 500 up 0.9%, and Nasdaq up 1.5%, driven by a sharp 6.3% drop in oil prices following a pause in US-Iran military actions. Although no official ceasefire is declared, Iran has agreed...
