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Oil markets retreat as traders focus on Non Farm Payrolls data.
The crude oil market has had a strong week, as the President of the United States threatened Russia with further sanctions, as well as tariffs for countries that purchase Russian oil, kicking off potential supply concerns.
The Friday session continues to see a lot of chop in the oil markets, as the market is trying to sort out the situation with Russian oil, as Donald Trump has threatened massive sanctions again, and tariffs on countries that buy Russian oil.
CNBC's Becky Quick reports on the company's quarterly earnings results.
Crude oil slips on U.S. tariff fears, but bullish oil outlook holds as supply risks and key technical levels support upside potential in WTI futures.
Exxon said it earned $7.1 billion, or $1.64 per share. The results outpaced LSEG estimates, which called for a profit of $1.54 per share.
CNBC's Becky Quick reports on the company's quarterly earnings results.
Exxon Mobil beat Wall Street estimate for second-quarter profit on Friday as higher oil and gas production helped the top U.S. oil producer overcome lower crude prices.
Shares of Chevron Corp. CVX-1.25% rose 0.5% in premarket trading Friday, after the oil giant beat profit expectations, as production reached a record, and has free cash flow more than doubled.
Exxon Mobil CEO Darren Woods said the oil giant is looking for acquisition opportunities in the oil-and-gas space after losing its challenge to Chevron's $53 billion deal to buy Hess.