President Trump accused ExxonMobil and Chevron of making 'too much money' off high fuel prices, just three days after both companies reported blowout second-quarter earnings fueled by the ongoing Iran war. Chevron's earnings soared nearly 400% to $12 billion, and Exxon's more than doubled to $14.5 billion, driven by crude prices that jumped after the U.S. and Israel struck Iran in February and Tehran retaliated by threatening the Strait of Hormuz. Trump demanded the companies 'give some of that back to the public' and also criticized Chevron CEO Mike Wirth on social media for not crediting his administration. Shares of both companies fell about 2% after Trump's comments, even as oil prices dropped 5% on Monday on hopes the Iran conflict ends soon.
Chevron CorpTrump criticized Chevron for making too much money amid high fuel prices, causing shares to fall.
Exxon Mobil CorpTrump criticized Exxon for making too much money amid high fuel prices, causing shares to fall.
