P208news.today208Sat 31 Oct04:01
NEWS.TODAY
BUSINESS 8/9
ExxonMobil and Chevron report record profits amid global fuel supply disruption
ExxonMobil and Chevron posted far higher quarterly profits as global diesel shortages pushed refining margins to record levels.
ExxonMobil and Chevron reported quarterly profits that doubled or nearly doubled, beating Wall Street expectations. The surge comes as diesel prices have jumped globally following attacks on refineries by Ukraine and Iran, with Ukraine striking Russian facilities and Iran targeting Middle Eastern plants. US refineries have ramped up production to fill the supply gap, with Chevron's facilities running at 98 per cent capacity and Exxon's Gulf Coast refineries at full utilisation.
From 4 outlets:
CNBC›
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