Oil giants make record profits during Iran war
Oil firm BP saw its highest profits since 2022.
Oil prices have shot up since the US-Israel war with Iran began, and the Strait of Hormuz, one of the world鈥檚 most important oil shipping routes, has been almost completely closed.
It鈥檚 been bad news for drivers, airlines and anyone already feeling the squeeze from the cost of living. But for some of the world鈥檚 biggest oil companies, it鈥檚 been very good news. Oil giants like ExxonMobil and Chevron are reporting huge profits.
And at the same time, we鈥檙e seeing record-breaking heatwaves, with wildfires raging in parts of Europe and Asia.
Our resident business expert, Emer Moreau, tells us about the oil giants鈥� profits and how the high costs are impacting all of us.
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