Iran war brings windfall profits to US oil giants
Photo: an oil tanker (Getty Images)
The war with Iran has been a highly profitable period for US oil companies. They have made more than $130 billion, according to The New York Times.
Profits of US oil companies
That is nearly three times what US oil producers and refiners earned over the same period in 2025, the outlet writes.
The estimate is based on the performance of more than 50 major US oil and gas companies, most of which are producers or refineries, over a six-month period from April through September. It does not include profits made in March, the first month of the war, or in October.
Together, these companies earned less than $47 billion over the same period in 2025. It was a difficult period when oil prices were lower and companies were struggling with the initial effects of US President Donald Trump’s trade war.
How much Americans are paying
As of this week, Americans have spent an additional $147 billion on gasoline and diesel since strikes on Iran began on February 28. This is according to an analysis by Brown University’s Climate Solutions Lab, the outlet reports. That amounts to more than $1,100 per household.
Earlier, it was reported that Brent crude prices reached a five-month high amid Houthi attacks on targets in Saudi Arabia and reports of strikes on vessels in the Persian Gulf.
