Chevron reported its highest quarterly profit in six years as crude and fuel prices climbed amid supply disruptions.
Chevron posted second-quarter adjusted earnings that exceeded Wall Street forecasts, marking its strongest quarterly profit in at least six years. The gain was driven by rising crude oil, gasoline, and diesel prices amid supply constraints linked to geopolitical tensions.
Analysts had anticipated a solid quarter, but Chevron’s results surpassed expectations, reflecting robust refining margins and upstream performance. The company’s shares rose 0.7% in pre-market trading following the release.
The report underscores the energy sector’s resilience as global demand recovers and supply remains tight due to ongoing disruptions.