Big Oil Set for Record Profits Amid Crude Price Surge

ExxonMobil and Chevron are projected to report tripled second-quarter earnings due to a four-year high in crude oil prices, driven by supply disruptions from the closure of the Strait of Hormuz. The surge has led to increased volatility and depleted global oil inventories.

By Tsvetana Paraskova Tue, July 7, 2026 at 1:00 AM GMT+3 4 min read · Yahoo Finance · July 6, 2026, 22:00 UTC

Big Oil Set for Record Profits Amid Crude Price Surge

Tickers: $CVX $XOM

Topics: earnings gas prices geopolitical conflict oil

Read the full article at Yahoo Finance

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