Exxon Mobil Expects Change in Liquid Prices to Boost Q2 Upstream Earnings

US energy major Exxon Mobil (XOM) on Tuesday said change in liquids prices could help boost its upstream earnings by $3.5 billion to $3.9 billion in Q2. Changes in gas prices are expected to impact earnings between a $200 million loss and a similar gain, the group said in a regulatory filing on Tuesday. The US-Iran war and related disruptions, as well as significant planned activities and seasonal demand patterns are among the factors that are going to significantly impact the company's Q2 results, it said. The company expects volume related disruptions from the Middle East events to cause a loss of $600 million to $800 million to its upstream segment, while other adjustment items, including reserves, other Middle East impacts, and timing effects, are expected to result in losses of $800 million to $1.8 billion. Change in margins is expected to improve earnings of the company's Energy Products segment by $2 billion to $2.4 billion, while estimated timings effect is expected to enhance the segment's earnings by $2.2 billion to $3 billion. Volume related disruptions from the Middle East crisis and changes in scheduled maintenance is expected to cause a $200 million to $400.