U.S. Oil Companies Post Over $130 Billion in Profit During Iran War, Nearly Triple Last Year

The 50 largest U.S. oil and gas companies earned more than $130 billion in profit from April to September, during the Iran war, according to a New York Times analysis. That is nearly three times the less than $47 billion they made in the same months of 2025. The war began Feb. 28, when the U.S. and Israel launched strikes on Iran, and it severely disrupted shipments through the Strait of Hormuz, which previously handled roughly one-fifth of global oil consumption. Bloomberg reported that international oil prices have risen nearly 60% since then. ExxonMobil, Chevron, BP, Shell and TotalEnergies posted $56.3 billion in adjusted third-quarter net income, and each beat Wall Street forecasts. Exxon's refining arm earned a record $9.05 billion in the quarter, and Chevron's downstream operations earned $4.93 billion. Brown University's Climate Solutions Lab estimated that American households have spent an extra $147 billion on fuel, about $1,100 each. Most Americans have paid over $4 a gallon for gasoline. Persian Gulf oil shipments have recently passed prewar levels, the Wall Street Journal reported, but pump prices have not yet eased. President Trump told a rally in Georgia on Saturday that the industry was making a fortune.

The right-leaning New York Post leads with the profit figure and consumer squeeze, then spends most of its space on market and supply detail: the Hormuz disruption, the Wall Street Journal's note on recovering shipments, and Bloomberg's figures on Exxon and Chevron refining. It does not feature Trump's remarks in the portion provided. The left-leaning New Republic also leads with the $130 billion, but frames it around ordinary Americans paying high prices while corporations gain. It cites Brown University's household cost estimate and quotes Trump's rally boast, ending with a line that "we" means Exxon, Chevron and Valero, not the public. The New York Times headline stays on the profit and the comparison with 2025. Both sides rely on the Times analysis and agree on the main numbers. The difference is emphasis: the Post stresses earnings and supply conditions, while the New Republic stresses Trump's comments and the burden on households. Truthout adds a quote from an oil executive about directing excess cash to owners.