While the war in Iran continues to disrupt oil shipments through the Strait of Hormuz and increase consumer energy prices, companies like ExxonMobil, Chevron, and Shell report enormous profits.

According to the Associated Press, Chevron reported second quarter profits of about $12 billion. ExxonMobil’s second quarter profits climbed to $14.5 billion.

CNBC reported that British energy giant Shell generated profits of $9.8 billion, more than double the company’s earnings in the second quarter of 2025.

Companies that own refineries, like Chevron and ExxonMobil, are in an ideal position to make high profits under these market conditions. “The return on refining, on a percentage basis, has skyrocketed,” said Tom Seng, assistant professor of energy finance at Texas Christian University, in an interview with the Associated Press.