Mapping the Iran war’s strikes on Gulf energy – and what comes next for oil
- Oil majors in the United States are profiting from the war on Iran, as soaring energy prices boost earnings but the crisis is threatening their longstanding investments in the Gulf.
- ExxonMobil and Chevron posted combined second-quarter earnings of more than $26.6bn earlier this month, buoyed by higher oil prices triggered by the closure of the Strait of Hormuz which disrupted global energy flows.
- Since the war began on February 28, Brent crude has risen about 22 percent, from $72 to $88 a barrel.
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- Oil majors in the United States are profiting from the war on Iran, as soaring energy prices boost earnings but the crisis is threatening their longstanding investments in the Gulf.
- ExxonMobil and Chevron posted combined second-quarter earnings of more than $26.6bn earlier this month, buoyed by higher oil prices triggered by the closure of the Strait of Hormuz which disrupted global energy flows.
- Since the war began on February 28, Brent crude has risen about 22 percent, from $72 to $88 a barrel.
Sources: Al Jazeera