ExxonMobil and Chevron on Friday reported second-quarter profits that surged on rising oil prices due to the Iran war.

Chevron's net income surged to $12 billion a nearly 400% increase compared to $2.5 billion in the same period last year. Its adjusted earnings came in at $6.06 per share, 50 cents higher than Wall Street's estimates.

Exxon post profits for the quarter of $14.5 billion, doubling compared to about $7.1 billion in the same quarter last year. Its reported adjusted earnings of $3.52 per share, missing estimates by 8 cents.

U.S. crude oil futures had an average closing price of $92.45 per barrel from April through June, a 27% increase over the previous quarter.

Chevron's U.S. production surged to an all-time around 2 million barrels per day as exports surged due to the supply disruption in the Middle East. Production worldwide stood at 4 million barrels per day, a 20% increase over 3.4 million bpd in the same quarter last year.

"We're kind of firing on all cylinders, which is good, because the world needs it," CEO Mike Wirth told CNBC's Becky Quick.

Here's how Exxon and Chevron did, compared with estimates from analysts polled by LSEG:

• Exxon earnings per share: $3.52 adjusted, vs. $3.60 expected
• Chevron earnings per share: $6.06 adjusted, vs. $5.56 expected

This is a developing story. Please check back for updates.