Oil Majors Cash In on War-Driven Profits as Trump Faces Pressure

Oil companies are raking in massive profits as crude prices surge due to the ongoing war. The world's nine largest energy firms have combined for a staggering $152.8 billion in first-half profits, up from $97.4 billion last year.

Saudi Aramco led the pack with a 33.9% increase in profits to $65.2 billion. ExxonMobil and Shell also saw significant gains, with their profits rising 26.3% to $18.7 billion and 96.4% to $16.5 billion respectively.

The increased oil prices are a double-edged sword for the Trump administration. While they boost energy company revenues, they also drive up fuel costs for US consumers, adding to inflationary pressures.

As midterm elections approach, President Donald Trump is facing growing pressure to contain energy costs and lower gasoline prices.