Exxon, Chevron Profits Surge As Iran War Drives Oil Prices Higher - Tekedia

ExxonMobil and Chevron posted much stronger second-quarter results as U.S.-Iran tensions pushed up crude prices and refining margins.

Chevron’s profit nearly quintupled and beat expectations, while Exxon’s earnings roughly doubled but slightly missed forecasts.

Both companies reported record or near-record production levels.

The results highlight how Middle East conflict can boost major producers’ profits while raising risks to shipping routes and energy supply stability.