On July 8, Exxon Mobil rose 3.08% in pre-market trading, trading at approximately $145.91/share, with turnover of $2.56 million. The rally was triggered by the company's Q2 earnings preview filed with the SEC.
According to the filing, elevated international oil prices driven by the US-Israel-Iran conflict are expected to deliver $3.5 to $3.9 billion in incremental upstream earnings. Additionally, derivatives positions tied to physical delivery are projected to contribute approximately $2.6 billion in profit. However, these gains are partially offset by roughly $1.2 billion in production disruption losses stemming from the Iran conflict and a $1.0 to $1.2 billion margin compression in the chemical segment.
Within the Integrated Oil & Gas sector, peers also traded higher: Occidental up 2.65%, Chevron up 2.42%, BP up 2.1%, Shell up 0.01%, and Petrobras up 1.56%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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