Exxon Mobil first quarter profits sink to lowest level in years as energy prices fade

Exxon Mobil’s first quarter profit slumped to the lowest level in years, stung by weaker crude prices and higher costs. The oil and gas giant earned $7.71 billion, or $1.76 per share, for the three months ended March 31. It earned $8.22 billion, or $2.06 per share, in the year-ago period.