Exxon Mobil CorpExxon's profits more than doubled due to the Iran war oil spike from Strait of Hormuz closure.
Exxon Mobil and Chevron more than doubled their year-ago profits in the second quarter, combining for $26.6 billion as the closure of the Strait of Hormuz spiked crude prices. Exxon reported $14.5 billion in profit, up from $7.1 billion a year earlier, while Chevron reported $12.1 billion, up from $3.1 billion. Gas prices have surged from under $3 to $4.06 a gallon since the Iran war began, and President Trump threatening to bomb mediator Oman risks driving them higher. Both companies' integrated models capture profits from well to pump, but a Hormuz peace deal could collapse the windfall almost overnight.
Exxon Mobil CorpExxon's profits more than doubled due to the Iran war oil spike from Strait of Hormuz closure.
BP PLCBP likely benefits from higher oil prices due to the Iran war, though not explicitly mentioned.
Shell plcShell likely benefits from higher oil prices due to the Iran war, though not explicitly mentioned.
Chevron CorpChevron's profits more than doubled due to the Iran war oil spike from Strait of Hormuz closure.