Disruptions in global fuel markets boost profits for oil companies.

Economic analyst Jack Brandle revealed today, Saturday, that American companies "Exxon Mobil" and "Chevron" achieved total profits of $27.9 billion over three months.

Brandle stated in a statement reviewed by the Video News Agency that "Exxon Mobil" earned $9.1 billion from fuel, compared to $7.3 billion from oil and gas, while "Chevron" saw its fuel profits jump to $4.9 billion, compared to $1.1 billion a year ago.

He added that the fuel refining sector recorded performance that exceeded oil and gas extraction profits for the first time in six years.

The analyst attributed these gains to the tightening global supply of diesel, due to the damage to Gulf refineries and disruptions in oil tanker movements through the Strait of Hormuz, as well as targeting Russian refineries and the shutdown of about a quarter of European refineries, which allowed American refineries to expand their sales in international markets.