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How US oil firms profit $130bn from Iran war as household bills surge

By · Published by Everything Blog

In short

Fifty-one major energy corporations pulled in more than $130bn between April and September, nearly tripling their earnings from the previous year. High global oil prices and severe supply shocks allowed American refiners to achieve historic net incomes while overseas rivals dealt with direct physical attacks. Concurrently, average American households absorbed over $1,150 in extra fuel costs, fueling widespread political contention across the country.

Key points

  • Disrupted Strait of Hormuz shipments and damaged foreign facilities enabled United States…: Disrupted Strait of Hormuz shipments and damaged foreign facilities enabled United States energy companies to benefit from tight global supplies.
  • American households have spent an extra $150bn on automotive fuels since the armed confli…: American households have spent an extra $150bn on automotive fuels since the armed conflict began in late February.
  • Market analysts anticipate continued price volatility across the energy sector until Wash…: Market analysts anticipate continued price volatility across the energy sector until Washington and Tehran reach a formal political agreement.

Sources checked by our analysis pipeline: 1

As energy from the Gulf and Russia take a hit, American oil and gas firms are the big gainers. The biggest losers: consumers around the world.

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.

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