Shafaqna English- Exxon Mobil, a major U.S. oil and gas company, said on Tuesday(7 Jul 2026) it expects second-quarter profits to be roughly $5 billion higher than the first quarter, thanks to surging oil prices amid the U.S.-Israeli war with Iran and stronger refining margins.
Market players are scrutinizing Exxon’s earnings preview for clues about the oil industry’s second-quarter performance. The Middle East conflict since February has injected a heavy geopolitical premium into oil markets and virtually closed the Strait of Hormuz — a waterway for about one-fifth of global oil — for several months.
Source: Reuters