Foreign companies profiteering from Iran's war, and Americans aren't: report
Source: Raw Story · Bias: Far Left
Summary
European energy companies are capitalizing on profits from the closure of the Strait of Hormuz, triggered by President Donald Trump's war on Iran, while American oil producers report declining earnings. Shell reported first-quarter adjusted earnings of $6.92 billion, up 24 percent, with CEO Wael Sawan attributing the surge to an "unprecedented disruption in global energy markets," with oil prices exceeding $126 per barrel, The New York Times reports.Britain's BP, or petroleum, more than doubled first-quarter profits to $3.2 billion, while French TotalEnergies reported $5.4 billion in quarterly net income and increased dividends. Meanwhile, American producers are left facing headwinds: Exxon Mobil reported $4.2 billion in first-quarter earnings — down 46 percent from a year earlier — while Chevron's quarterly profit slid to $2.2 billion, a 37 percent drop year-over-year, according to NYT reports. Both companies attributed declines to accounting adjustments. Exxon and Chevron announced no plans to increase drilling despite elevated prices.Watch the video below. Your browser does not support the video tag.
Related Coverage
- Melania gives Congress private deadline as she works around Trump's team: report (Far Left — Raw Story)
- REPORT: Acting DNI Bill Pulte Fires Dozens of ODNI Staff for Politicizing Intelligence, Insubordination, Gross Misconduct (Far Right — The Last Refuge)
- What Is Iran Building Now in the Zagros Mountains? (Right — RedState)
- Big Oil heads for biggest profits in years as Trump pushes for lower gas prices (Right — New York Post)
- ‘A total disappointment’: revelers face unbearable heat at Great American State Fair (Center Left — US news | The Guardian)
- Extreme heat temporarily closes Great American State Fair (Center — NewsNation)
- Americans Cheer as B-2 Stealth Bomber, Fighter Aircraft Fly Over Great American State Fair in DC Amid 250 Celebrations (VIDEO) (Far Right — The Gateway Pundit)
- Glenn Beck REACTS to foreigners LOVING their visit to America (Right — Blaze Media)
Daily Analysis
Read the full Parallax Pulse for May 7, 2026 — an AI-powered analysis of how Left and Right media covered the biggest stories this day.
More Headlines From May 7, 2026
- Rubio’s high-stakes meeting with Pope Leo (Center Left)
- Trump upends Democrats' strategy on Iran war powers (Center Left)
- Iran and U.S. exchange fire in Strait of Hormuz (Center Left)
- U.S. and Iran Trade Strikes as Tensions in Strait of Hormuz Rise (Center Left)
- 8 Things Doctors Want You to Know Before Your Colonoscopy (Center Left)








