Trump Tells Oil Companies to Pass Gains on to Consumers

US President Donald Trump has urged major oil companies to reduce retail fuel prices for consumers. In a Truth Social post, he praised Chevron's performance but asked the company and others to lower prices at the pump.

The call comes after Chevron posted a record quarterly net profit of $12.1 billion on Friday, which underscores how major oil companies have benefited from global supply disruptions triggered by the Iran war.

Chevron CEO Mike Wirth warned that escalating tensions with Iran and Houthi strikes on Saudi energy infrastructure have heightened the risk of a new disruption to global oil shipments.