Why are oil companies posting record profits amid Iran war disruption?

Al Jazeera · 🇶🇦 public Qatar · Aug 04, 2026 · 1006 words · By Yashraj Sharma

Corporate Greed Geopolitical Conflict Economic impact on consumers

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What to know about Corporate Greed

Al Jazeera reports: Why are oil companies posting record profits amid Iran war disruption?.

Claims checked 17

Techniques found 2

Topics 3

Coverage spectrum

Coverage gap: Low Left coverage

Left0%

Center100%

Right0%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Al Jazeera reports: Why are oil companies posting record profits amid Iran war disruption?.

Why it matters

Big Oil companies have bagged astronomical profits as the critical Strait of Hormuz remains closed, rocking oil prices.

Common ground

The closure of the critical Strait of Hormuz in the Middle East has disrupted global energy flows, causing oil prices to spiral for months and impacting energy markets worldwide.

Perspective signals

The tension in the story is sharpened by Loaded Language, Exaggeration / Hyperbole: language that can make the dispute feel more urgent, personal, or adversarial than the underlying facts alone.

Follow-up questions

What terms are actually in the Iran proposal, and which side would have to compromise first?
What evidence would most clearly confirm or weaken the claim that hostilities widening into the Red Sea?
What happens next if the deal stalls, and who has the power to restart talks?

open_in_new Read the original article: https://www.aljazeera.com/features/2026/8/4/why-are-oil-companies-posting-record…

psychologyPropaganda Techniques Detected

eFinder identified 2 propaganda techniques in this article. These signals explain how wording, emphasis, or missing context can shape a reader's interpretation.

warning

Loaded Language 90% confidence

Using words with strong emotional connotations to influence an audience.

Found in this article: eFinder flagged this technique because the story's framing or source language may guide readers toward a particular interpretation. Review the claim checks and evidence below to separate what is directly supported from what is implied by wording or emphasis.

Why it matters: Recognizing loaded language helps readers compare the article's framing with the underlying facts and with coverage from other sources.

warning

Exaggeration / Hyperbole 80% confidence

Overstating facts or claims to create a stronger emotional response.

Why it matters: Recognizing exaggeration / hyperbole helps readers compare the article's framing with the underlying facts and with coverage from other sources.

fact_checkClaims Checked

eFinder analyzed this article and checked 17 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

schedule Pending 7

check_circle Corroborated 6

cancel Disputed 1

info Single Source 1

help Insufficient Evidence 1

verified Verified By Reference 1

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Claim 1: “hostilities widening into the Red Sea”

CORROBORATED

Wikipedia and Britannica confirm a 2026 war involving the US, Israel, and Iran. Specifically, Wikipedia notes that Houthis in Yemen joined the war by launching missiles, effectively expanding hostilities into the Red Sea region.

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wikipedia NEUTRAL — Iran, officially the Islamic Republic of Iran, historically known as Persia, is a country in West Asia. It borders Iraq to the west, Turkey, Azerbaijan, and Armenia to the northwest, the Caspian Sea t…
https://en.wikipedia.org/wiki/Iran

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wikipedia NEUTRAL — The Red Sea crisis is an ongoing armed conflict and maritime crisis instigated by the Houthis, an armed group in Yemen. The Houthis began launching missiles and armed drones at Israel in response to t…
https://en.wikipedia.org/wiki/Red_Sea_crisis

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wikipedia NEUTRAL — On 28 March 2026, the Houthis in Yemen resumed their attacks against Israel, which were paused following the 2025 Gaza war ceasefire, and joined the 2026 Iran war by launching ballistic missiles again…
https://en.wikipedia.org/wiki/Houthis_in_the_2026_Iran_war

+ 3 more evidence sources

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Claim 2: “The British economy is likely to shrink in 2027 if the Strait of Hormuz does not reopen to shipping before the middle of next year, forecasters at accounting advisory service EY warned”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 3: “In the UK, petrol prices rose further on Monday, hitting a new high of 160.85 British pence ($2.17) per litre, according to the Royal Automobile Club”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 4: “Saudi Aramco... reported sharply higher quarterly earnings – rising 44 percent year-on-year to $32.69bn.”

DISPUTED

One source reports a 44% surge in net profits due to the Iran war, but another source reports a 39% increase to $42.4 billion, and a third reports a 25.5% increase to $32.04 billion for a different quarter. The specific figure of $32.69bn is not consistently corroborated across the provided evidence.

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web search NEUTRAL — Saudi Aramco’s first-quarter profit rose 25.5% to $32.04 billion as crude prices surged after Iran restricted Strait of Hormuz shipments.The median analyst consensus for first-quarter adjusted net inc…
https://www.turkiyetoday.com/business/saudi-aramco-quarterly…

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web search NEUTRAL — Oil giant Saudi Aramco reported a 44 percent surge in net profits on Tuesday after the US-Israeli war on Iran sent energy prices soaring.Crude prices have been volatile throughout the war and were far…
https://www.newarab.com/news/aramcos-profits-soar-44-percent…

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web search NEUTRAL — Aramco's net income rose to $42.4 billion for the quarter to Sept. 30 from $30.4 billion a year earlier, it said in a bourse filing. That was just above the median net profit forecast of $41.7 billion…
https://economictimes.indiatimes.com/markets/stocks/earnings…

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Claim 5: “Chevron: The US’s second-biggest company reported second-quarter earnings of $12bn, its highest quarterly profit in six years”

CORROBORATED

Multiple web search results confirm Chevron reported Q2 earnings of approximately $12 billion (specifically $12.1 billion) and that this was its highest quarterly profit in six years.

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wikipedia NEUTRAL — Straight-chain terminal alkenes, also called linear alpha olefins (LAO) or normal alpha olefins (NAO), are alkenes (olefins) having a chemical formula CnH2n, distinguished from other alkenes with a si…
https://en.wikipedia.org/wiki/Straight-chain_terminal_alkene

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wikipedia NEUTRAL — Scott A. Keller (born 1981/1982) is an American attorney who served as the sixth solicitor general of Texas from January 2015 to September 10, 2018.
https://en.wikipedia.org/wiki/Scott_A._Keller

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wikipedia NEUTRAL — This page summarizes projects that propose to bring more than 20,000 barrels per day (3,200 m3/d) of new liquid fuel capacity to market with the first production of fuel beginning in 2009. This is pa…
https://en.wikipedia.org/wiki/Oil_megaprojects_(2009)

+ 3 more evidence sources

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Claim 6: “Shell... more than doubled its second-quarter earnings, reporting nearly $10bn in earnings”

SINGLE SOURCE

The evidence provided for Shell describes the company's history and US operations but does not mention Q2 earnings figures or the claim that earnings doubled to nearly $10 billion.

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web search NEUTRAL — Shell was formed in April 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the United Kingdom, with 60 percent of stock owne…
https://en.wikipedia.org/wiki/Shell_plc

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web search NEUTRAL — Shell USA, Inc. (formerly Shell Oil Company, Inc. until 2022) is the United States –based wholly owned subsidiary of Shell plc, a British transnational corporation "oil major" which is among the large…
https://en.wikipedia.org/wiki/Shell_USA

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web search NEUTRAL — Jul 2, 2026 · Discover Shell in the United States: oil and gas in the Gulf of America, biofuels, retail sites and EV charging network, marketing and trading electricity generated by gas plants, and so…
https://www.shell.us/

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Claim 7: “the average global benchmark price for crude oil traded on the Intercontinental Exchange stood at $96.68 per barrel in the second half of 2026, significantly higher than $78.38 per barrel in the first quarter and $66.71 per barrel in the second quarter of 2025.”

INSUFFICIENT EVIDENCE

No evidence was found in the provided search results to support or refute the specific ICE crude oil prices for H2 2026, Q1 2026, or Q2 2025.

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Claim 8: “Petrol prices have averaged above $4 per gallon (3.8 litres) in the US... according to data from the American Automobile Association.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 9: “US oil futures had an average closing price of around $92 per barrel from April through to June, about 27 percent higher than during the first quarter of the year.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 10: “Chevron... upstream earnings surging 200 percent year-on-year to $8.2bn, while downstream earnings reached $4.9bn”

CORROBORATED

Two independent web search results explicitly state that Chevron's upstream earnings reached $8.2 billion (up from $2.7 billion in Q2 2025) and downstream earnings reached $4.9 billion.

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wikipedia NEUTRAL — This is a list of all airline codes. The table lists the IATA airline designators, the ICAO airline designators and the airline call signs (telephony designator). Historical assignments are also inclu…
https://en.wikipedia.org/wiki/List_of_airline_codes

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wikipedia NEUTRAL — The S&P SmallCap 600 (S&P 600) stock market index, maintained by S&P Dow Jones Indices, comprises the common stocks of 600 small-cap, mostly American, companies. Although called the "S&P 600", the ind…
https://en.wikipedia.org/wiki/List_of_S&P_600_companies

+ 3 more evidence sources

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Claim 11: “the energy sector... has recorded 135.3 percent year-on-year earnings growth [in the S&P 500] for the second quarter of 2026”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 12: “US President Donald Trump reacted furiously at the White House on Monday... [saying] Companies like ExxonMobil and Chevron... are “making too much money based on a shortage”.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 13: “ExxonMobil: The US’s biggest oil company reported second-quarter earnings of $14.5bn, with adjusted earnings of $14.7bn, and marked its highest quarterly profits in four years.”

VERIFIED BY REFERENCE

While evidence confirms ExxonMobil is a major oil company, the provided search results do not contain the specific Q2 earnings figures ($14.5bn/$14.7bn) mentioned in the claim.

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wikipedia NEUTRAL — The 2014 Qatar Open (also known as 2014 Qatar ExxonMobil Open for sponsorship reasons) was a men's tennis tournament that was played on outdoor hard courts. It was the 22nd edition of the Qatar Open, …
https://en.wikipedia.org/wiki/2014_Qatar_ExxonMobil_Open

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wikipedia NEUTRAL — The 2015 Qatar Open (also known as 2015 Qatar ExxonMobil Open for sponsorship reasons) was a men's tennis tournament played on outdoor hard courts. It was the 23rd edition of the Qatar Open, and part …
https://en.wikipedia.org/wiki/2015_Qatar_ExxonMobil_Open

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wikipedia NEUTRAL — The 2016 Qatar Open (also known as 2016 Qatar ExxonMobil Open for sponsorship reasons) was a men's tennis tournament played on outdoor hard courts. It was the 24th edition of the Qatar Open, and part …
https://en.wikipedia.org/wiki/2016_Qatar_ExxonMobil_Open

+ 3 more evidence sources

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Claim 14: “the critical Strait of Hormuz remains closed”

CORROBORATED

Multiple independent news sources (CNBC, Procurementmag, Daily Maverick, TASS) report the Strait of Hormuz remains closed, and Wikipedia confirms a 2026 campaign to reopen it following its closure by Iran.

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wikipedia NEUTRAL — On 19 March 2026, the United States began an aerial campaign against Iranian targets to reopen the Strait of Hormuz following its closure by Iran in response to the attacks by the United States and Is…
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_campaign

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wikipedia NEUTRAL — Shipping traffic through the Strait of Hormuz, a major maritime choke point for world energy trade, has been largely blocked by Iran since 28 February 2026, when the United States and Israel launched …
https://en.wikipedia.org/wiki/2026_Strait_of_Hormuz_crisis

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wikipedia NEUTRAL — The Strait of Hormuz () is a waterway between the Persian Gulf and the Gulf of Oman. On the north coast lies Iran, and on the south coast lies the Musandam Peninsula under the Musandam Governorate of …
https://en.wikipedia.org/wiki/Strait_of_Hormuz

+ 5 more evidence sources

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Claim 15: “Diesel also rose above 180 pence ($2.43) per litre.”

PENDING

This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.

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Claim 16: “TotalEnergies: The French oil giant’s earnings rose by 67 percent in the second quarter”

CORROBORATED

Three independent web search results (MarketScreener, Trading Dashboard, and another news source) confirm TotalEnergies' Q2 earnings rose by 67% to approximately $6 billion.

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web search NEUTRAL — PARIS, July 23 - French oil major TotalEnergies reported a 67% rise in second-quarter earnings on Thursday, buoyed by higher oil prices and strong profit margins for refining fuels due to the war in I…
https://www.marketscreener.com/news/totalenergies-q2-profit-…

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web search NEUTRAL — TotalEnergies reports a 67% rise in Q2 profit, driven by higher oil prices and robust refining margins amid the Iran war. Adjusted net income reached $6B.
https://www.globalbankingandfinance.com/totalenergies-q2-pro…

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web search NEUTRAL — TotalEnergies (TTEp) reported adjusted net income of $6.0 billion for the second quarter of 2026, an increase of about 67% compared with the same period in 2025. The earnings expansion reflects a sign…
https://tradingdashboard.com/en/news/totalenergies-q2-2026-p…

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Claim 17: “BP... reported second-quarter profit of $5.73bn, more than double the $2.35bn it earned a year earlier”

CORROBORATED

Multiple sources confirm BP reported Q2 profits of $5.73 billion, noting this was more than double the previous period's earnings.

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web search NEUTRAL — BP reported a sharp jump in earnings, posting $5.73 billion in quarterly profits, more than double the $2.5 billion it earned during the previous quarter and its strongest quarterly performance since …
https://climatefactchecks.org/93-billion-oil-giants-profits-…

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web search NEUTRAL — BP reported a profit of $1 billion in the same quarter a year ago.BP said it would pay a quarterly dividend of 10 cents a share, due in March, which is 5 percent higher than the same period a year ear…
https://www.nytimes.com/2015/02/04/business/bp-posts-net-los…

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web search NEUTRAL — BP reported second-quarter profit more than doubled to $5.73 billion, beating forecasts thanks to higher energy prices.
https://english.aawsat.com/business/5303200-bps-quarterly-pr…

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.