Stocks
Trump Criticizes Oil Giants for Profiting from US-Iran War
US oil companies ExxonMobil and Chevron reported substantial profits last week due to rising global oil prices triggered by the ongoing US-Iran war.
The companies' earnings were fueled by a significant increase in oil prices, which have been volatile since the conflict began. As of August 3, 2026, global markets were still reeling from the impact of the war, causing oil prices to remain high.
US President Donald Trump recently commented on the situation, stating that oil companies 'are making too much money' amid the crisis.