MarketPR
Rising oil prices attributed to the Iran war drove second-quarter profit surges at ExxonMobil (XOM) and Chevron (CVX), both reporting Friday.
The pair of quarterly results puts the sector's earnings response to the conflict's commodity impact in clear focus.
The catalyst The Iran war is the stated driver of higher oil prices, and higher oil prices are the stated driver of the profit gains at both companies.
ExxonMobil and Chevron landed their results in the same Friday session. That simultaneity gives the market a clean read on how the conflict's commodity effect translated into earnings across two of the largest U.S.
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