Oil Giants Hit Record Profits as War Strikes Refineries

📡 CNBC Top News yesterday · 1 min read ·

Part of composite article Oil Refiners Rake in Record Profits as War Chokes Fuel Supplies View full article →

Chevron and ExxonMobil reached all-time high profits as global diesel prices surged. Ukraine and Iran have struck refineries in Russia and the Middle East, disrupting fuel supplies. The attacks cut refining capacity, driving prices up. Higher diesel prices mean bigger profits for oil companies that refine crude into fuel.