Exxon just warned Wall Street of billion-dollar profit hits. Here’s what may cause it.

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Exxon Mobil Corp. late Monday warned investors that its second-quarter profit may take a hit of more than $1 billion from lower crude prices, and just under $1 billion from lower natural-gas prices.

Exxon’s

XOM upstream, or exploration and production, business saw a GAAP profit of $6.8 billion in the first quarter of this year.

This post was originally published on Market Watch

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