Exxon Reaps Windfall of Up to $1.9B From Energy Rally

Exxon Reaps Windfall of Up to $1.9B From Energy Rally
Exxon said higher crude oil and natural gas prices boosted quarterly results.

Exxon Mobil Corp. said higher crude oil and natural gas prices boosted quarterly results by as much as $1.9 billion.

Gas prices added $700 million to $1.1 billion to earnings in the quarter that ends this week, Exxon said in a filing on Thursday. Oil, meanwhile, added another $400 million to $800 million, compared with third-quarter results.

Gains on unsettled derivative contracts contributed another $300 million to $700 million to results in the company’s so-called upstream business, according to the filing. Exxon shares have risen 47% this year and are on track for the best annual performance since at least 1981.


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