One Turn
Open the globe →
The story so far · 3 days, October 29 to 31, 2026
One Turn followed this story across 3 editions, from London, United Kingdom on October 29, 2026. Newest first.
Wars involving Iran and Ukraine have disrupted refineries and shipping, tightening fuel supplies.
Open the latest on the 3D globe →
Exxon reported third-quarter profit of $15.4 billion and Chevron $9.9 billion. Refining earnings drove the gains. Brent crude rose 2.37% to $113.43 a barrel. US gasoline is up 34% and heating oil 74%, one report said.
Why it matters: High fuel costs are squeezing households and feeding into US midterm politics.
Sources: OilPrice, OilPrice, CNBC · See it on the globe
Exxon reported $15.4 billion in third-quarter profit, more than double a year ago. Chevron nearly tripled to $9.9 billion. BP earned $8.46 billion. Shell and TotalEnergies doubled profits.
Why it matters: Higher fuel costs for drivers and businesses are producing large gains for oil companies.
Sources: OilPrice, OilPrice, CNBC · See it on the globe
Refining margins lifted Shell and TotalEnergies to their best quarter since 2022. Sinopec profit rose 64%.
Why it matters: Consumers pay high fuel prices as oil firms gain.
Sources: MercoPress, OilPrice · See it on the globe