New Delhi, July 31 -- Exxon Mobil on Friday reported a 105% year-on-year (YoY) jump in second-quarter net profit to $14.53 billion, while revenue climbed 42% to $116.02 billion. The strong performance came as elevated crude oil prices, driven by the conflict between the US and Iran, boosted earnings for major oil producers.

Higher oil prices enabled companies such as Exxon to realise stronger selling prices, significantly lifting profitability during the quarter.

Benchmark US oil prices surged from around $68 to $115 per barrel during the quarter, driven by global supply-and-demand dynamics and buying interest from traders, refiners, and other market participants.

Operationally, Exxon reported its highest upstream production in more th...