How US oil firms profit $130bn from Iran war as household bills surge

What happened: US oil companies earned more than $130bn in profits during the war on Iran, per a New York Times estimate based on 51 large US oil and gas firms from April through September. Key numbers: Over $130bn in profits versus less than $47bn in the same period in 2025. Americans spent an extra $150bn on petrol and diesel since the war began on February 28, over $1,150 per household. Why it matters: Analysts cited say high oil prices risk harming economic growth and could contribute to a recession, while consumers face continued price pressure unless governments step in.

US oil companies earned more than $130bn in profits during the war on Iran, per a New York Times estimate based on 51 large US oil and gas firms from April through September.

Analysts cited say high oil prices risk harming economic growth and could contribute to a recession, while consumers face continued price pressure unless governments step in.