Exxon Mobil Corp. XOM 0.42 % reported its smallest quarterly profit since 1999 on Friday, the latest in a parade of woeful earnings out of oil and gas producers this year as a supply glut dragged down prices and ate into income. Despite the company’s 63% drop in profit, investors shrugged off the weak performance and Exxon’s shares rose less than 1% to $88.40. That mirrored a trend of generally higher oil and gas stocks after first-quarter earnings as crude prices this week climbed to their highest levels of the year. That sentiment has some energy executives optimistic the green shoots of a gradual recovery may be sprouting in the oil patch, as crude prices rise above $45 this week to their highest levels of the year. Prices for June delivery of the U.S. benchmark finished […]