Clash Between Trump and American Oil Companies Over Iran War: What's Happening?
The profits of major American oil companies have surged to record levels as a result of a spike in oil prices driven by the escalation of the war between the United States and Iran. Iran's exports have declined, and the price of a barrel of oil has exceeded $100. This has led to profits of nearly $15 billion for ExxonMobil and $9.7 billion for Chevron in the second quarter. Refining companies like Marathon and Valero are also expected to record their own outstanding profits. Meanwhile, President Trump is facing criticism from Democrats over the rising fuel prices and the oil companies' profits amid the crisis.
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