Chevron and ExxonMobil reported 2024 second-quarter results with combined net profit of more than US$26 billion, including US$12.0 billion for Chevron and US$14.7 billion for ExxonMobil. Chevron said its Q2 profit rose 328% from the first quarter, while ExxonMobil said its profit increased 67%. The companies linked the surge to higher oil prices driven by an escalation in the Iran situation. The earnings came as other major European energy firms also posted strong profits, while households in many regions faced rising energy, transport and food costs.