Trump Slams ExxonMobil and Chevron's Profits from High Oil Prices

President Donald Trump expressed his disapproval of ExxonMobil and Chevron's profits from high oil prices, stating 'I don't like' the situation. The U.S. war with Iran has led to a surge in crude oil prices, with U.S. oil futures averaging around $92 per barrel in the second quarter, up 27% from the first quarter.

Exxon and Chevron reported significant profits in their second-quarter earnings, with Exxon's profits more than doubling to $14.5 billion and Chevron's earnings increasing to $12 billion. Trump believes that these companies are making 'too much money' based on a shortage caused by the war, and is calling for them to give some of this profit back to the public.

The average gasoline price in the U.S. has risen to around $4.09 per gallon, nearly 40% higher than before the war started. Trump's comments led to a slight decline in the companies' stock prices, with Chevron's shares down by nearly 2% and Exxon trading slightly lower.