Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Exxon and Chevron Beat Q3 Estimates on Refining Windfall
Exxon Mobil and Chevron both beat analyst expectations for the third quarter as the Iran war and refinery attacks lifted fuel margins, and their shares were indicated higher ahead of the US open.
Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) both beat analyst expectations for third-quarter profit. The results came as the Iran war and refinery attacks pushed refining margins and diesel prices sharply higher.
Pre-market indications at about 12.18pm London time pointed to Exxon up about 2.0% and Chevron up about 1.7%, though these are indicative and not a close. Yesterday’s closes were $183.29 for Exxon, up 16.8% since the 30th of July, and $231.46 for Chevron, up 20.4%.
XOM.US
Adjusted earnings per share were $4.23 at Exxon and $5.28 at Chevron. Chevron’s revenue rose to $67.8bn from $49.7bn a year earlier.
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Mike Wirth, Chevron’s chairman and chief executive, said:
We delivered strong operational performance and disciplined execution, while continuing to invest to grow energy supply,
Mike Wirth, Chevron
Refining stood out. Exxon’s refining margin, the profit earned per barrel of crude turned into fuel, reached $50.3 a barrel, almost three times a year earlier. Chevron’s downstream profit, covering refining and fuel marketing, was $4.9bn, more than four times last year’s.
Exxon said roughly 10% of global refining capacity was offline, with capacity in Russia and the Middle East remaining curtailed. Fewer working refineries probably meant tighter fuel supply, which would help explain the higher margins.
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Exxon Mobil and Chevron shares indexed to 100, 30 July to 29 October 2026. Both rallied into today’s Q3 results, with Chevron outpacing Exxon.
The windfall is not confined to the US. BP (LON: BP.) reported a refining margin of $46.70, yet its share buyback has been suspended since February. Shell (LON: SHEL) and TotalEnergies raised payouts yesterday.
Exxon plans $4.3bn of dividends and $5.1bn of buybacks. Chevron’s dividend is $1.78 a share, payable on the 10th of December.
Both stocks were already near three-month highs before the results. For UK traders, who reach them through US shares or CFDs, the risk is the political pressure for windfall levies on oil profits, which is building.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
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