DNO.OL

Global oil prices decline in July, but Goldman Sachs commodity guru Jeffrey Currie touts a strong upside risk for oil on the back of wide, “unprecedented”...

Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be a second-straight quarter of record-breaking profits, lifted by stellar refining margins and high oil and gas prices. A rapid recovery in demand following the end of pandemic lockdowns and a surge in energy prices, driven by Russia's invasion of Ukraine, have boosted profits for companies such as Exxon Mobil and Shell after a two-year slump. Exxon earlier this month said it could post its strongest quarter yet, with profit potentially surpassing $16 billion, almost twice its first-quarter earnings.

History offers a glimpse into the next move for stocks after a deep rout.

(Bloomberg) -- Shell Plc said soaring margins from fuel production may have added more than $1 billion to the earnings of its refining business last quarter, when gasoline prices broke records in several countries.Most Read from BloombergNatural Gas Soars 700%, Becoming Driving Force in the New Cold WarRoaring US Rental Market Shows Early Signs of Slowing DownUS, Allies Discuss Capping Russian Oil at $40-$60 a Barrel to Cut War FinancingWall Street Says a Recession Is Coming. Consumers Say It's