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Why when gas prices sky-rocketed did for example EXXON Mobile have their highest earnings ever?

April 26, 2017Earnings Exxon gas prices Highest mobile sky-rocketed

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Why when gas prices sky-rocketed did for example EXXON Mobile have their highest earnings ever?

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I believe that Exxon’s record earnings weren’t due to high gas prices but rather the speculation in the oil futures market, which is what caused oil prices to reach roughly $150 per barrel. It was a chain reaction; speculators sent oil prices skyward, which in turn caused the price of gas to sky rocket.