US oil firms earn over $130bn amid Iran war as households pay extra $150bn
Briefing by News4U · First published
Al Jazeera reports that United States oil companies earned more than $130bn in profits during the war on Iran, compared with less than $47bn in the same period in 2025, according to a New York Times estimate based on 51 large firms from April through September. Americans spent an extra $150bn on petrol and diesel since the war began on February 28, or more than $1,150 per household. ExxonMobil and Chevron reported profits between $10bn and $15bn; Valero Energy’s third-quarter profit reached $6.83bn and Phillips 66 posted a record $5.62bn. Analysts warned that high prices may persist next year unless governments intervene. [1]
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- How US oil firms profit $130bn from Iran war as household bills surge
Al Jazeera · · Excerpt