# Most obituaries published in the Reading Eagle are submitted through funeral homes and cremation services.

*business · news · 2026-05-01 · Reading Eagle*

## Key points

- Exxon Mobil and Chevron's profits dropped due to financial hedges tied to undelivered oil.
- The near closure of the Strait of Hormuz after February attacks has blocked physical oil delivery.
- Despite profit setbacks, both Exxon and Chevron reported revenue and adjusted profits above expectations.
- Chevron's earnings were negatively impacted by a $360 million legal reserve loss and foreign currency effects.
-  Airlines have started canceling flights globally as jet fuel supplies are strained by Middle East conflict.

**Companies:** Exxon Mobil, Chevron
**Countries:** United States, Israel, Iran

[Read the full story on Reading Eagle](https://www.readingeagle.com/2026/05/01/us-oil-companies-first-quarter-profits-iran-war/)

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