Exxon posts slight miss as repairs dogged refining results

ExxonMobil reported slightly lower-than-expected second-quarter earnings of $3.52 a share, despite soaring crude prices. This miss was attributed to refinery maintenance, which limited the company's ability to fully capitalize on high fuel prices. However, Exxon's overall profit of $14.7 billion was still its largest since Russia’s 2022 invasion of Ukraine, benefiting from disrupted crude supplies due to the U.S.-Iran conflict.