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Oil Giants Post Record Profits Amid US-Iran War Fuel Shortages

Oil Giants Post Record Profits Amid US-Iran War Fuel Shortages

AP News·31 July 2026

Major oil companies like Exxon and Chevron are expected to report large second-quarter profits after the six-month US-Iran conflict shut down most shipping through the Strait of Hormuz, spiking global oil prices and causing fuel rationing in several countries. This economic disruption from Middle East war reflects the "wars and rumors of wars" and widespread hardship Jesus described preceding the end times, as global instability increasingly strains ordinary people while few profit.