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A crewman stands on the deck of an oil tanker & # 39; Devon & # 39; when sailing through the Persian Gulf to Iran's Kharq Island oil terminal on March 23, 2018.
>> Oil and gas companies recorded fantastic profits.
A crewman stands on the deck of an oil tanker & # 39; Devon & # 39; when sailing through the Persian Gulf to Iran's Kharq Island oil terminal on March 23, 2018.
>> Oil and gas companies recorded fantastic profits.
Photo: Ali Mohammadi, Bloomberg
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Exxon Mobil
Third quarter earnings 2018: $ 6.2 billion
2017 third quarter earnings: $ 4 billion
Percent change: Up 55 percent
Exxon Mobil
Third quarter earnings 2018: $ 6.2 billion
2017 third quarter earnings: $ 4 billion
Percent change: Up 55 percent
Photo: Mark Humphrey, AP
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Chevron
Third quarter earnings 2018: $ 4 billion
2017 third quarter earnings: $ 1.9 billion
Percent change: Up 107 percent
Chevron
Third quarter earnings 2018: $ 4 billion
2017 third quarter earnings: $ 1.9 billion
Percent change: Up 107 percent
Photo: Alan Diaz, AP
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EOG Resources
Third quarter earnings 2018: $ 1.2 billion
2017 third quarter earnings: $ 100 million
Percent change: Up 1,100 percent
EOG Resources
Third quarter earnings 2018: $ 1.2 billion
2017 third quarter earnings: $ 100 million
Percent change: Up 1,100 percent
Photo: Billy Smith II, Chronicle
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ConocoPhillips
Third quarter earnings 2018: $ 1.9 billion
2017 third quarter earnings: $ 420 million
Percent change: Up 352 percent
ConocoPhillips
Third quarter earnings 2018: $ 1.9 billion
2017 third quarter earnings: $ 420 million
Percent change: Up 352 percent
Photo: F. Carter Smith, COURTESY PHOTO
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Phillips 66
Third quarter earnings 2018: $ 1.5 billion
2017 third quarter earnings: $ 823 million
Percent change: Up 82 percent
Phillips 66
Third quarter earnings 2018: $ 1.5 billion
2017 third quarter earnings: $ 823 million
Percent change: Up 82 percent
Photo: Daniel Acker / Bloomberg
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LyondellBasell
Third quarter earnings 2018: $ 1.1 billion
2017 third quarter earnings: $ 1.1 billion
Percent change: Even
LyondellBasell
Third quarter earnings 2018: $ 1.1 billion
2017 third quarter earnings: $ 1.1 billion
Percent change: Even
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Valero
Third quarter earnings 2018: $ 856 million
2017 third quarter earnings: $ 841 million
Percent change: Up 2 percent
Valero
Third quarter earnings 2018: $ 856 million
2017 third quarter earnings: $ 841 million
Percent change: Up 2 percent
Photo: Paul Sakuma, STF / AP
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Kinder Morgan
Third quarter earnings 2018: $ 693 million
2017 third quarter earnings: $ 334 million
Percent change: Up 107 percent
Kinder Morgan
Third quarter earnings 2018: $ 693 million
2017 third quarter earnings: $ 334 million
Percent change: Up 107 percent
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Schlumberger
Third quarter earnings 2018: $ 644 million
2017 third quarter earnings: $ 545 million
Percent change: Up 18 percent
Schlumberger
Third quarter earnings 2018: $ 644 million
2017 third quarter earnings: $ 545 million
Percent change: Up 18 percent
Photo: Jacob Ford, Associated Press
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Halliburton
Third quarter earnings 2018: $ 435 million
2017 third quarter earnings: $ 365 million
Percent change: Up 8 percent
Halliburton
Third quarter earnings 2018: $ 435 million
2017 third quarter earnings: $ 365 million
Percent change: Up 8 percent
Photo: Steve Gonzales, Houston Chronicle
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TechnipFMC
Third quarter earnings 2018: $ 137 million
2017 third quarter earnings: $ 121 million
Percent change: Up 13 percent
TechnipFMC
Third quarter earnings 2018: $ 137 million
2017 third quarter earnings: $ 121 million
Percent change: Up 13 percent
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Baker Hughes
Third quarter earnings 2018: $ 13 million
2017 third quarter losses: $ 134 million
Percent change: Up 101 percent
Baker Hughes
Third quarter earnings 2018: $ 13 million
2017 third quarter losses: $ 134 million
Percent change: Up 101 percent
Photo: Houston Chronicle
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National Oilwell Varco
Third quarter earnings 2018: $ 1 million
2017 third quarter losses: $ 26 million
Percent change: Up 101 percent
National Oilwell Varco
Third quarter earnings 2018: $ 1 million
2017 third quarter losses: $ 26 million
Percent change: Up 101 percent
Photo: Katherine Feser, Houston Chronicle
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Weatherford
2018 third quarter losses: $ 199 million
2017 third quarter losses: $ 256 million
Percent change: Up 22 percent
Weatherford
2018 third quarter losses: $ 199 million
2017 third quarter losses: $ 256 million
Percent change: Up 22 percent
Photo: Eddie Seal, Bloomberg
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Transocean
2018 third quarter losses: $ 409 million
2017 third quarter losses: $ 1.4 billion
Percent change: Up 242 percent
Transocean
2018 third quarter losses: $ 409 million
2017 third quarter losses: $ 1.4 billion
Percent change: Up 242 percent
Photo: TransOcean
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A crewman stands on the deck of an oil tanker & # 39; Devon & # 39; when sailing through the Persian Gulf to Iran's Kharq Island oil terminal on March 23, 2018.
>> Oil and gas companies recorded fantastic profits.
A crewman stands on the deck of an oil tanker & # 39; Devon & # 39; when sailing through the Persian Gulf to Iran's Kharq Island oil terminal on March 23, 2018.
>> Oil and gas companies recorded fantastic profits.
Photo: Ali Mohammadi, Bloomberg
Oil fell to a 7-month low due to supply jitters around the world
Oil fell to a seven-month low as fears eased that US sanctions on Iran will suppress supplies worldwide.
Crude oil settled in New York on Monday after rising earlier due to American sanctions on producer No. 3 OPEC was officially kicked. The Trump administration gives relief to China and seven other big buyers so they can continue to buy some Iranian crude. Meanwhile, expanding domestic inventories reduced concerns about tightening global supply.
"The reality of the relief will be some Iranian oil left on the market, but that will still be a number that will disappear the market," said John Kilduff, a partner at New York-based New Capital LLC hedge fund. .
RELATED: This is an Iranian oil guessing game. And the bears win
Oil slumped from four-year highs last month when speculation grew that Washington would provide relief to reduce gasoline prices ahead of US midterm elections, while other producers in the Organization of Petroleum Exporting Countries pledged to offset the supply gap. Meanwhile, a trade war between the world's two largest economies sparked fears that fuel demand will suffer even when President Donald Trump said he wanted to reach an agreement with China.
At the main pipeline center at Cushing, Oklahoma, crude stockpiles probably rose 2.1 million barrels last week, according to estimates compiled by Bloomberg.
West Texas Intermediate crude for December delivery lost 4 cents to end the session at $ 63.10 a barrel on the New York Mercantile Exchange. Futures fell 6.6 percent last week. The total volume traded Monday is around 10 percent below the 100-day average.
PREVIOUS: Iran sanctions kicking, with the biggest oil disturbance in a few years
Brent futures for January settlement added 34 cents to settle at $ 73.17 on the London-based ICE Futures Europe exchange. Global benchmark crude traded at $ 9.96 premium to WTI for the same month.
US Secretary of State Mike Pompeo said the release would only allow the purchase of temporary Iranian crude. Iran can change its behavior or see its economic collapse, he said.
© 2018 Bloomberg L.P.
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