United States oil companies have earned more than $130bn in profits during the war on Iran, even as consumers pay much higher prices for key commodities, amid fears that US President Donald Trump may renew fighting after midterm elections . The estimate, released by The New York Times, is a conservative evaluation based on the performance of 51 large US oil and gas companies in the six months from April through September. By contrast, in the same period in 2025 – when the prices of oil were lower prior to the launch of the US-Israel war on Iran – they collectively earned less than $47bn. But the gains come as burgeoning living costs are crushing consumers.
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