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Oil Companies Report Soaring Profits Amid U.S. War on Iran

HeadlineAug 04, 2026

Oil giants continue to report making soaring profits thanks to rising gas prices due to the war on Iran. BP reported making nearly $6 billion between April and June — that’s double last year’s profit during the second quarter. Saudi Aramco has reported it made $33 billion during the quarter — a 33% jump over last year. On Tuesday, President Trump criticized oil firms for making too much money and called on them to lower prices.

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