The companies making billions from the Iran war
BP's profits more than doubled to $3.2bn (£2.4bn) for the first three months of the year, after what it called an "exceptional" performance in its trading division. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Amidst the global cost of the US-Iran war, several companies are experiencing record profits. The conflict's impact on energy prices and market volatility is creating significant financial gains for specific industries.
- Oil and gas giants like Shell (profits of $6.92bn) and TotalEnergies (profits up by almost a third to $5.4bn) are major beneficiaries due to surging energy prices.
- Major banks, including JP Morgan with its trading arm generating $11.6bn in revenue, collectively reported $47.7bn in profits for the first quarter of 2026.
- The defence sector, with companies like BAE Systems and Lockheed Martin reporting record order backlogs, is seeing increased investment due to perceived "security threats."
- The renewables sector, including NextEra Energy and Danish firms Vestas and Orsted, is experiencing a surge in interest and profits as the need for energy diversification becomes apparent.
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Oil Prices Rise After US and Iran Exchange Fire in Hormuz Strait - May 2026
Oil prices rose in Asia following an exchange of fire between the US and Iran in the vital Strait of Hormuz. Amidst the global cost of the US-Iran war, several companies are experiencing record profits as the conflict's impact on energy prices and market volatility creates significant financial gains for specific industries. Tanzania has also seen a significant increase in its retail fuel prices, with the Energy and Water Utilities Regulatory Authority announcing new rates effective Wednesday. These developments highlight the cascading economic effects of geopolitical tensions on energy markets across different regions.
