Exxon profits up on higher oil prices

US oil biggest company Exxon Mobil has reported a rise in quarterly profits due to on the back of higher oil prices.

company said last year profit is 41% is higher than same last year profit, net profit  rose to $10.7bn (£6.6bn) for the three months to June.

The profit was its largest since the third quarter of 2008. The firm said production had risen by 10%.

Higher oil prices have also rise in profit such as Royal Dutch Shell, which reported a 77% jump in profits.

The price of oil has surged in the past year due to political unrest in oil-producing countries.

The price of a barrel of benchmark US light sweet crude oil is up to around $97 a barrel currently, from $78 a year ago.