Trump Slams Big Oil Profits Amid Iran Conflict

President Trump expressed disapproval at the large profits made by ExxonMobil and Chevron during the second quarter, attributing it to high oil prices amid the ongoing U.S. war with Iran.

'I don't like' the companies making 'too much money based on a shortage,' Trump told reporters at the White House on Monday, according to CNBC.

ExxonMobil's profits more than doubled to $14.5 billion in the second quarter compared to $7.1 billion during the same period last year, while Chevron's earnings increased to $12 billion from $2.5 billion.

The U.S. and Israel launched strikes on Iran on February 28, leading to a 20% increase in U.S. crude oil prices since then.