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Oil giants double profits
Exxon Mobil doubled its third-quarter profit to $15.4 billion, while Chevron’s profit surged nearly 200% to $9.9 billion, as both companies ran their U.S. refineries at full capacity to capitalize on higher diesel prices and tight supplies. The average U.S. price of diesel rose to $6.32 a gallon, up more than 70% from the same period last year, while refining profits at both companies exceeded analysts’ expectations.
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