MARKETS: #Oil Report: Shell misses expectations with 70% plunge and Exxon’s profit falls by 59.4% as other companies report similar falls in profitability – @AceFinanceNews

#AceFinanceNews – July.29: US #oil settles up 46 cents, or 1.12 pct, at $41.60 a barrel on Friday …

#Oil prices steadied on Friday amid short-covering after a week-long selloff but were on track to end the month about 15 percent lower.

Oil hits three-month lows below $43 as oversupply weighs

#Oil prices fell to three-month lows on Thursday as producers continued to pump more than needed, filling inventories, and economic growth prospects darkened.

Shell misses expectations with 70 percent earnings plunge

Royal Dutch Shell reported a more than 70 percent fall in quarterly profit on Thursday, well below analyst estimates, blaming weak oil prices, poor refining profits and higher charges resulting from its $54 billion acquisition of BG Group.

ExxonMobil profits plunge 59.4% to $1.7 billion on low #oil prices – @AFP

Brent crude #oil falls 20% below June high, following concern of supply and demand for #oil – @OilSheppard

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