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Oil companies are expected to reap big profits because of US-Iran conflict

Oil companies are expected to reap big profits because of US-Iran conflict

Analysts are expecting major oil companies to report large profits while fighting between Iran and the U.S. impeded petroleum shipments

Shell profit more than doubles to $9.8 billion, second-highest on record, as Iran war lifts prices

Shell profit more than doubles to $9.8 billion, second-highest on record, as Iran war lifts prices

By Stephanie Kelly and Shadia Nasralla LONDON, July 30 (Reuters) - Shell's net profit more than doubled from last year to $9.84 billion in the second quarter, beating expectations, helped by higher energy prices and increased market volatility during the Middle East conflict.

Chevron and Exxon Profits Surge Amid U.S.-Iran Conflict, Impacting Fuel Prices

Chevron and Exxon Profits Surge Amid U.S.-Iran Conflict, Impacting Fuel Prices

Chevron and Exxon Profits Surge Amid U.S.-Iran Conflict, Impacting Fuel Prices

Ukraine hit an Iranian ship. Will it lead to wider US-Middle East war?

Ukraine hit an Iranian ship. Will it lead to wider US-Middle East war?

Ukraine’s ambassador to the United States says Kyiv has no interest in merging its war against Russia with the U.S. conflict in Iran after drone hit.

Oil rises as traders assess shipping flows; big monthly gain in sight

Oil rises as traders assess shipping flows; big monthly gain in sight

By Siddharth Cavale and Anushree Mukherjee NEW YORK, July 31 (Reuters) - Oil prices rose more than $1 on Friday and were on track for a big monthly gain as reports that some tankers were forced to turn around in the Strait of Hormuz prompted traders to reassess shipping flows through the key

Chevron records highest quarterly profit in six years, beating analyst estimates

Chevron records highest quarterly profit in six years, beating analyst estimates

By Sheila Dang HOUSTON, July 31 (Reuters) - Chevron surpassed analyst estimates for second quarter earnings on Friday, reporting its highest quarterly profit in at least six years as the U.S.-Israeli war with Iran disrupts world energy markets, boosting profits for the biggest oil companies.

Japan Turns to Canadian Crude Amid Hormuz Supply Uncertainty

Japan Turns to Canadian Crude Amid Hormuz Supply Uncertainty

Japan is diversifying its oil supply sources by turning to Canadian crude oil due to uncertainties over shipments through the Strait of Hormuz. The first shipment of Canadian crude since 2025 is en route to Japan, chartered by Exxon Mobil. This shift comes as Japan's largest refiner, Eneos, seeks alternatives following the U.S. and Israel's war on Iran, which disrupted oil flows through Hormuz. The Trans Mountain pipeline in Canada, running at near full capacity, has become a crucial source for Asian countries, with exports to Asia accounting for a significant portion of Vancouver's oil exports.

ExxonMobil quarterly profit hits four-year high but misses analyst estimates

ExxonMobil quarterly profit hits four-year high but misses analyst estimates

By Sheila Dang HOUSTON, July 31 (Reuters) - ExxonMobil missed Wall Street estimates for second-quarter profit on Friday, despite notching its biggest quarterly profit in four years amid higher oil prices and improved refining margins driven by the ongoing U.S.-Israeli war with Iran.

Oil prices fall 5% to two-week low on hopes for US-Iran conflict easing

Oil prices fall 5% to two-week low on hopes for US-Iran conflict easing

By Scott DiSavino July 28 (Reuters) - Oil prices dropped 5% on Tuesday to a two-week low, on cautious hopes for a resolution to the Iran war as traders assessed developments in the Middle East. Brent futures fell $4.61, or 5.2%, to $83.75 a barrel at 12:01 p.m. EDT (1601 GMT). U.S.

World shares are mixed and South Korea's Kospi share index falls 6%, while oil prices surge

World shares are mixed and South Korea's Kospi share index falls 6%, while oil prices surge

Shares in Europe and Asia are mixed, while South Korea’s Kospi share index fell 6% in another bout of selling of chipmaking shares

South Korea's Kospi share index falls 6% and other Asian shares are mixed as oil prices surge

South Korea's Kospi share index falls 6% and other Asian shares are mixed as oil prices surge

Asian shares are mixed, while South Korea’s Kospi share index fell 6% on prolonged selling of chipmaking shares

Oil prices fall 5% to two-week low after several days without US-Iran strikes

Oil prices fall 5% to two-week low after several days without US-Iran strikes

By Scott DiSavino July 28 (Reuters) - Oil prices dropped about 5% on Tuesday to a two-week low, on cautious hopes that the pause in fighting between the United States and Iran will lead to talks to end the war, even though previous halts have proved only temporary.