The oil giant has earned $93 billion in windfall gains from the Iranian war

With the almost complete closure of the Strait of Hormuz, oil prices have surged in recent months, and the profits of oil and gas companies have increased significantly worldwide. The eight largest oil companies achieved over $90 billion in profits in the three months from April to June 2026, which were affected by the attacks on Iran by the United States and Israel and the ensuing war. As oil prices rose, so did consumer energy bills, the Government called for additional taxes on oil companies to subsidize energy bills and should harm the environment。