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ExxonMobil's Q2 net income hit $14.5B with upstream output at a two-decade high. The company raised its quarterly dividend to $1.03 per share and returned $9.4B to shareholders.
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Nearly 10% of global refining capacity is offline due to war, and ExxonMobil and Chevron warn high fuel prices will persist even if crude falls. U.S. retail gasoline has topped $4 a gallon again.
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OPEC and the IEA both see demand softening, but escalating U.S.-Iran clashes in the Strait of Hormuz sent crude prices surging to a one-month high. ExxonMobil closed up 4.05%.
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Geopolitical turmoil is sending oil prices higher, putting the dividend firepower of ExxonMobil and ConocoPhillips under the microscope. Here’s how the two energy titans stack up on cash flow and payout strategy.
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President Trump said the Iran ceasefire is "over" and threatened more strikes, sending oil prices up 7% and the Dow down more than 800 points. Energy stocks rallied as tech and broader markets sold off.