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Exxon, Chevron report sharply higher third-quarter profits

Chevron and ExxonMobil reported sharply higher third-quarter profits as their U.S. refineries ran at full capacity amid high diesel prices. Chevron’s net income rose nearly 200% to $9.9 billion, while ExxonMobil’s doubled to $15.4 billion. Refiners increased production to fill a supply gap after refinery strikes in Russia and the Middle East, and both companies beat earnings expectations.

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