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Exxon Mobil signals higher second-quarter earnings
Exxon said refining gains and higher crude prices could add about $5 billion in second-quarter earnings, while war disruptions may trim about $1 billion.
- On Tuesday, Exxon Mobil signaled second-quarter earnings could see a boost of about $5 billion compared to the previous quarter, driven by spiked oil prices during the U.S.-Israeli war with Iran and improved refining margins.
- The U.S. and Israeli war with Iran forced closure of the Strait of Hormuz, pushing international benchmarks well over $100 per barrel earlier this year.
- Refining profits could rise about $2.6 billion due to timing effects, while Exxon's upstream segment expects a $1.6 billion lift despite roughly $1 billion in losses from war-related disruptions.
- Accusing Big Oil of price gouging, President Donald Trump demanded gasoline prices fall toward $2.50 per gallon and instructed the DOJ to investigate companies for keeping pump prices elevated.
- Analysts expect Exxon to report $15.7 billion in adjusted earnings on July 31, marking the company's strongest quarter since 2022.
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Exxon Mobil expects a profit jump of around five billion dollars in the second quarter – a benchmark for the industry. This is due to the rise in oil prices as a result of the Iran war.
·Düsseldorf, Germany
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Exxon signals Q2 profit windfall as higher oil prices boost bottom line
U.S. oil and gas major Exxon Mobil signaled on Tuesday that its second-quarter earnings could see a boost of about $5 billion compared to the previous quarter, as oil prices spiked during the U.S.-Israeli war with Iran and the company's refining margins also improved.
·New York, United States
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wiwo.deReposted by 
manager magazin
manager magazinThe US company Exxon benefits from increased oil prices and better refinery margins. Investors hope for a strong signal for the industry.
·Düsseldorf, Germany
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Coverage Details
Total News Sources11
Leaning Left0Leaning Right2Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
C 71%
R 29%
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