Chevron Posts Record Quarterly Profit on Higher Oil Prices

Chevron has reported its highest quarterly profit in at least six years, beating analyst estimates of $5.56 per share with adjusted earnings of $12 billion, or $6.06 per share. The U.S.-Israeli war with Iran has disrupted world energy markets, boosting profits for major oil companies like Chevron.

Chevron's Chief Financial Officer Eimear Bonner attributed the strong results to the company's ability to deliver reliable energy despite geopolitical uncertainty and market volatility.

The second-largest U.S. oil major saw upstream earnings rise 200% from the previous year, with production totaling 4 million barrels of oil equivalent per day during the second quarter.