Energy Giants Face Earnings Contraction Amid Geopolitical Volatility
Exxon Mobil and Chevron, the two largest U.S. oil companies, reported significant declines in quarterly earnings as global crude prices experienced extreme volatility following the February 28 military strikes against Iran by U.S. and Israeli forces. The sudden escalation in the Middle East disrupted critical maritime oil shipping lanes, forcing a sharp, late-quarter price spike…