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NEW YORK, United States (AFP) — US petroleum giants ExxonMobil and Chevron released blowout profits Friday due to the Middle East war, as executives cautioned that elevated gasoline prices will probably continue to strain consumers.
The US oil giants scored huge profit increases, illustrating that the financial benefits from supply disruptions from the US-Iran war easily offset negative effects at both companies.
ExxonMobil’s second-quarter profits more than doubled to $14.5 billion, while Chevron’s came in at $12.1 billion, more than five times the level in the year-ago quarter.
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