Exxon Profit Jump a Sign of Strengthening Oil Companies

Exxon Mobil Corp.’s profit more than doubled in the first quarter of the year as the oil and gas giant signaled a strengthening in business amid a reprieve in commodity price depression.

The results from Exxon, the largest U.S. oil company, indicate this could be the best quarter for energy companies in some time, with the price of oil starting to claw back from a prolonged swoon. Still, optimism has been tempered as oil has stalled just below the $50-a-barrel mark.

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