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.
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.
While the French filled their tanks at high prices, ExxonMobil announced record gains of $3.5 to $3.9 billion in the second quarter of 2026. A contrast that summed up the global energy crisis: some made fortunes when others tightened their belts. The American oil giant took direct advantage of the tensions in the Middle East and the closure of the Ormuz Strait to achieve exceptional results, the best since 2022. The figures that were scary: +3.9…
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manager magazinThe US company Exxon benefits from increased oil prices and better refinery margins. Investors hope for a strong signal for the industry.
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