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Trump Demands Oil Companies Cut Fuel Prices Amid Iran Disruptions

Guavy AI Editorial Team
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CVX
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US President Donald Trump has called on major oil companies to lower retail fuel prices for consumers. In a post on his Truth Social account, Trump praised Chevron's performance and urged the company to pass its gains on to Americans.

Chevron recently posted a record quarterly net profit of $12.1 billion, underscoring the benefits of global supply disruptions triggered by the Iran war. However, Chevron CEO Mike Wirth warned that escalating tensions with Iran have increased the risk of further disruption to global oil shipments.

Wirth highlighted the risks to supply in the Strait of Hormuz, Red Sea, and Black Sea, stating that 'some of the challenges have expanded, and the risks to supply are very real.' Trump's call for lower prices comes as Chevron benefits from these disruptions.

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