US energy firms near record profits before elections

American oil companies are preparing to announce record-breaking quarterly profits, with expectations that their earnings will exceed three times what they achieved in the first quarter. This increase is due to rising oil prices following the outbreak of the US-Israeli war against Iran and increased global demand. These profits come at a time when the Trump administration is pressuring companies to lower gasoline prices ahead of the midterm elections, as political pressure mounts due to high prices and their impact on public opinion. The substantial profits pose a challenge to the relationship between Trump and the oil industry, which is considered one of his primary financial supporters and a key backer of the Republican Party.

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