ExxonMobil (XOM.N) and Chevron (CVX.N) reported combined Q2 net income of $26.5bn, driven by higher crude and gasoline prices after the Trump administration’s military action against Iran. Chevron posted $12.2bn, roughly five times year-earlier and a company-record quarter; Exxon reported $14.5bn, about double a year ago and its strongest quarter since the 2022 Russia-Ukraine war. The sizable profits bolster sector earnings and investor sentiment but could prompt renewed criticism from President

ExxonMobil (XOM.N) and Chevron (CVX.N) reported combined Q2 net income of $26.5bn, driven by higher crude and gasoline prices after the Trump administration’s military action against Iran. Chevron posted $12.2bn, roughly five times year-earlier and a company-record quarter; Exxon reported $14.5bn, about double a year ago and its strongest quarter since the 2022 Russia-Ukraine war. The sizable profits bolster sector earnings and investor sentiment but could prompt renewed criticism from President Trump, who has accused the energy industry of price-gouging.