Exxon And Chevron Report Strong Quarterly Profits
Exxon and Chevron both reported quarterly profits that exceeded analyst expectations on Friday. The report comes as energy markets remain volatile due to the ongoing conflict with Iran. AAA reports the average price of regular gasoline in the United States is now $4.39 per gallon. Gasoline prices increased by 33 cents per gallon over the last week, including a 9-cent increase overnight. These price increases occurred despite production disruptions caused by ongoing war. Chevron shares closed down 1% following the report. Bloomberg Intelligence analyst Vincent Piazza noted consistent upstream price appreciation during the end of the quarter. Exxon reported that approximately 15% of its worldwide output remains offline due to the war in Iran. Chevron's international refining division reported a one billion dollar loss resulting from higher transportation costs and lower margins.
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Sources · 7 independent
“Both Exxon and Chevron reported better than expected quarterly profits today.”
“Both Exxon and Chevron reported better than expected quarterly profits today. Gasoline prices have jumped by 33 cents a gallon in just the last week”
“Exxon and Chevron reported profit beats thanks to higher oil and now The airline may shut down as early as 3 a.m. Saturday more natural gas prices even with the production disruptions from the war”
“Both energy giants Exxon and Chevron reported quarterly profits that topped Wall Street expectations, but the companies were not immune from the impacts of the Iran war”
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