Weaker crude oil and gas prices drove quarterly results sharply lower at Exxon Mobil Corp and Chevron Corp, pushing down shares at the two largest U.S. oil producers and signaling a weak start to the new year. While one-time asset sales or write downs were large factors, the two companies said earnings suffered from weaker margins in crude oil, chemicals and fuel production. Shares of Exxon and Chevron were both at least 3% lower in morning trade on the mixed results and worries about slowing global economic growth. …read more
Source:: Yahoo Finance
