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  1. Oil prices are climbing due to fighting in the Middle East, while banks face earnings reports amid market volatility.

ExxonMobil and Chevron Report Massive Q3 Profits Amid Record Gas Prices

1 report, 1 independent Updated Sun 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

ExxonMobil reported third-quarter earnings of $15.4 billion, which was roughly double the amount earned a year earlier. Chevron Corporation reported adjusted earnings of $10.4 billion, marking a 186% rise. These results were released as the national average gas price for the third quarter reached $4.12 a gallon, 96 cents higher than a year ago.

From 2paragraphs.com

Why it matters

Some supportBrind's analysis of the reports

The high profits from both companies occurred while gas prices were at a record high. ExxonMobil CEO Darren Woods acknowledged the impact of high prices on people’s lives and economic growth, while Chevron CEO Mike Wirth stated that refining margins would eventually moderate.

Oil prices are climbing due to fighting in the Middle East, and banks are reporting earnings amidst market volatility.

From 2paragraphs.com

Who's involved

  • ExxonMobilExxonMobil, which reported Q3 earnings of $15.4 billion.
  • Chevron CorporationChevron Corporation, which reported adjusted Q3 earnings of $10.4 billion.
  • Bernie SandersBernie Sanders, who criticized the high profits of oil companies.
  • Adam SchiffAdam Schiff, who criticized the high profits of oil companies.
  • Mike WirthMike Wirth, CEO of Chevron Corporation, who commented on refining margins.
  • Donald TrumpDonald Trump, who responded to the criticism regarding oil company profits.

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • ExxonMobilSpeculative

    ExxonMobil might face increased political scrutiny regarding its high quarterly profits.

  • Chevron CorporationSpeculative

    Chevron Corporation might face increased political scrutiny regarding its high quarterly profits.

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Oil prices are climbing due to fighting in the Middle East, while banks face earnings reports amid market volatility.

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Newest first; wire copies grouped