ExxonMobil's Profit Leaps to $14.5 Billion as Conflict Pushes Up Oil Prices

ExxonMobil earned $14.5 billion in Q2 2026 — up 245% from $4.2 billion in Q1. The Iran-U.S. conflict disrupted oil shipments, raising crude prices. Q1 took the initial hit to refining; Q2 captured those higher prices flowing through to oil-production profits with a delay. Chevron also reported Q2 results on July 31.