Trump Slams Big Oil Profits Amid Iran Conflict

U.S. President Donald Trump expressed disapproval of ExxonMobil and Chevron's high profits amid the ongoing U.S.-Iran conflict.

The companies' earnings have increased significantly, with Chevron's profits rising to $12 billion in the second quarter, a fivefold increase from last year, while Exxon's profits more than doubled to $14.5 billion.

Trump stated that 'they're making too much money based on a shortage,' and demanded that they 'give some of that back to the public' by cutting retail prices.

The comments came after the companies reported their second-quarter earnings, with U.S. crude oil prices increasing about 20% since the U.S. and Israel launched strikes on Iran in February.