Trump Tells Oil Companies to Pass Gains On to Consumers

US President Donald Trump has urged major oil companies to lower retail fuel prices for consumers. In a Truth Social post, Trump praised Chevron's performance and told the company and others in the industry to reduce prices at the pump.

The call comes after Chevron posted a record quarterly net profit of $12.1 billion on Friday. The company has benefited from global supply disruptions triggered by the Iran war.

Chevron CEO Mike Wirth cautioned that escalating tensions with Iran and Houthi strikes on Saudi energy infrastructure have heightened the risk of a new disruption to global oil shipments. He noted that the challenges have expanded, and the risks to supply are very real.