Big Oil quarterly profits surge as Iran war redraws winners and losers | The National
--------------------------------------------------------------------
Source: The National (UAE)
Published: 2026-08-05 04:04 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Middle East, Europe, Military & Defence, Iran, Ukraine/Russia, Energy, Financial Markets, World News, Business & Economy, War & Conflict
--------------------------------------------------------------------
Snippet:
Big Oil delivered its strongest quarter since the aftermath of Russia's invasion of Ukraine, with six of the world's biggest oil companies posting a combined $79.4 billion in second-quarter net income as Brent crude averaged about $104 a barrel, up more than 50 per cent year-on-year. The Iran war sent prices higher while disrupting flows through the Strait of Hormuz.
--------------------------------------------------------------------