Shares of ExxonMobil rose 2% in pre-market trading. (Reuters pic)NEW YORK: ExxonMobil reported Friday that third-quarter profits more than doubled to US$15.4 billion, as it benefited from higher oil prices and refining margins due to the US-Iran war.
Profits in the period were slightly more than double the US$7.5 billion in the year-ago period, while revenues were about 33% higher at US$113.2 billion.
Oil prices averaged around US$85 per barrel during the period, about a third more than in the 2025 quarter. The results are the latest instance of soaring profits from petroleum companies in the wake of the US-Israel attacks on Iran launched in late February.
The most dramatic lift to the oil giant's financial performance from the Middle East upheaval was in its refining business, where the company processes crude oil into gasoline, diesel and other petroleum products.
