Stocks
Trump Slams Oil Giants as Iran War Sends Prices Soaring
US oil giants ExxonMobil and Chevron reported massive profits last week due to soaring global oil prices caused by the ongoing US-Iran war.
The companies' earnings are a stark reminder of the devastating impact of the conflict on the energy market, which has led to record-high oil prices.
The Iran-US war has disrupted global oil supplies, leading to a sharp increase in prices. As a result, ExxonMobil and Chevron have seen their profits skyrocket, with the two companies reporting gangbusters earnings last week.
Trump's comments on the issue are notable, as he said that oil companies are 'making too much money' amid the conflict.