Big Oil is raking in huge profits. Shareholders like Trump are cashing in. You’re paying for it with high gas prices.
ExxonMobil and Chevron reported significant profit increases in Q3, with ExxonMobil earning $15.4B and Chevron $10.4B, driven by high global oil prices due to the US-Iran war. Both companies' shares have risen 52% this year. President Trump, a shareholder, has seen his oil investments grow by up to $35.8M. Shell also reported a 127% profit increase. High gas prices are impacting US consumers and farmers.
How this was made
The 30-second read
Why it matters
Earnings beats and soaring oil prices create a strong positive catalyst for oil stocks, likely extending recent price rallies.
Market read
Oil majors are experiencing record earnings, reinforcing a sector‑wide rally and supporting bullish sentiment in energy‑focused portfolios.
What to watch
Potential regulatory or geopolitical risks could dampen future profit momentum despite current gains.
Background
The article highlights record Q3 profits for the largest US oil producers amid the ongoing US‑Iran conflict, which has driven gasoline prices to historic quarterly highs.
Ticker impact
ExxonMobil reported Q3 profit of $15.4 bn, a near‑double YoY increase, driving a >1% pre‑market rise.
upward pressure as investors price in record profit and guidance expectations
Quarterly profit beat and guidance for record full‑year earnings support further buying.
Chevron posted adjusted Q3 earnings of $10.4 bn, up 186%, prompting a >1% pre‑market gain.
upward pressure as market digests the earnings surprise
Large profit jump signals strong demand and pricing power in the current oil price environment.
Shell (London‑listed) reported Q3 profit of $12 bn, up 127% YoY, reinforcing sector strength.
upward bias as global oil earnings surge
While not US‑listed, Shell’s earnings echo the US‑oil rally and may lift its share price.
Market effects
Oil sector broadly bullish; higher crude prices boost earnings across majors.
US and European markets likely see oil‑related gains; energy‑heavy indices may outperform.
Elevated oil prices and earnings could influence global commodity sentiment and inflation outlook.
Counterpoint
If oil prices retreat sharply, the earnings surge may be short‑lived and valuations could compress.
Key entities
- companyExxonMobil
US oil major reporting $15.4 bn Q3 profit.
- companyChevron
US oil major reporting $10.4 bn Q3 profit.
- companyShell
London‑based oil major reporting $12 bn Q3 profit.
