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Trump accuses oil companies of ‘making too much money’ from his war on Iran

US president hits out at ExxonMobil and Chevron, saying they should ‘give some of that back to the public’

Donald Trump has criticised oil companies for “making too much money” from the global energy market disruption caused by his war on Iran.

Brent crude had been trading at about $70 (£52) a barrel before the first US-Israeli strikes at the end of February, but by the end of April it had soared as high as $126 and is now trading at about $85 a barrel.

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Aug 4, 2026 Oil Commodities ExxonMobil

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