The Iran crisis has reshaped global energy markets, sending crude oil prices soaring and delivering massive profits to the world's biggest oil companies. As disruptions in the Strait of Hormuz pushed oil above $126 per barrel, energy giants including Saudi Aramco, ExxonMobil, Chevron, Shell, BP, and TotalEnergies reported record quarterly earnings.

Combined profits reached nearly $93 billion between April and June, while consumers worldwide struggled with soaring fuel and energy costs. The windfall has sparked political criticism and renewed calls for stronger taxes on excess profits and greater investment in clean energy.

Iran War Fuels Oil Profits: Energy Giants Earn $93 Billion in Just 3 Months

Global markets took a beating, and oil prices surged over 90 dollars per barrel as the Iran war raged on. However, Israel's markets defied the broader global gloom.


Israel's Stocks and Currency Surge Even as Iran War Rages 

Increasing dividend payment expectations and soaring domestic demand suggest that a bull rally in India's oil and gas companies has more legs to run. The Nifty energy index — a local benchmark for the industry — has surged 31 percent this year. The index is set for a record nine-year winning run. Half of the top ten performances on a Bloomberg measure of the world's 124 mid- to large-sized energy businesses over the period were conventional energy firms from India. The gauge as a whole gained 4.7 percent.

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Iran War Fuels Oil Profits: Energy Giants Earn $93 Billion in Just 3 Months

Israel's Stocks and Currency Surge Even as Iran War Rages

World-beating stocks rally in focus