That six-month haul, recorded between April and September, was nearly three times what the companies earned during the same period last year, when profits totaled less than $47 billion, according to a New York Times analysis.
uncertain
profits → record → analysis
The conflict, which began Feb. 28, severely disrupted oil shipments through the Strait of Hormuz, a critical waterway that previously handled the equivalent of roughly one-fifth of global oil consumption.
asserted
that → begin → consumption
Oil shipments through the Persian Gulf recently surpassed prewar levels, according to the Wall Street Journal, though that supply boost is yet to ease costs at the pump.
uncertain
boost → surpass → pump
ExxonMobil, Chevron, BP, Shell and TotalEnergies together posted $56.3 billion in adjusted third-quarter net income, with each company beating Wall Street forecasts, Bloomberg reported Friday.
ExxonMobil’s refining business raked in a record $9.05 billion in third-quarter profits — nearly five times its year-earlier haul, according to Bloomberg.
uncertain
business → post → Bloomberg
Chevron, meanwhile, earned $4.93 billion from refining, fuel marketing and related operations — about quadruple its profit a year earlier and the division’s best quarterly showing on record.
asserted
Chevron → earn → record
Since the US and Israel launched strikes against Iran on Feb. 28, international oil prices have climbed nearly 60%, according to Bloomberg.
uncertain
prices → launch → Bloomberg
Refineries that remain operational have enjoyed fatter margins as the Iran war and Ukrainian strikes in Russia have knocked roughly 10% of the world’s fuel-making capacity offline, according to the news outlet.
uncertain
war → remain → outlet
Ukraine recently paused its attacks on Russian oil refineries at the behest of President Trump, who blamed the strikes for high prices.
asserted
who → pause → prices
American motorists are paying an average of $4.20 a gallon for regular gasoline, up from $2.98 before the Iran war began in late February, according to AAA.
uncertain
war → pay → AAA
Derek Reisfield, co-founder of MarketWatch, warned that diesel prices could remain elevated because of longstanding constraints on US refining capacity and the difficulty of expanding production.
uncertain
prices → warn → production
This problem has been brewing for a long time,” he told The Post.
asserted
he → brew → Post
Reisfield warned that sustained high oil prices could eventually hurt the industry’s long-term prospects by encouraging investment in alternative energy sources, including nuclear, geothermal, solar and wind power.
uncertain
prices → warn → power
“The potential bad news for the oil industry is this capacity gets put in place and reduces the fundamental demand for oil as an energy source over time,” he told said.
asserted
he → put → said
Trump singled out ExxonMobil and Chevron in August, urging the companies to return some of their profits to the public and cut retail fuel prices.
asserted
Trump → single → prices
“When you look at one company where they made 12 times what they made the year before, they ought to give some of that back to the public,” he told reporters in the Oval Office on Aug. 3.
asserted
he → look → Aug.
“And they better cut the retail price, the consumer price.”
asserted
they → cut → price
The president, described himself as a champion of free enterprise but expressed frustration that the industry’s enormous earnings were coming at consumers’ expense.
asserted
earnings → describe → expense
“The United States oil and gas business is making hundreds of billions of dollars,” Trump told supporters Saturday.
asserted
Trump → make → supporters
He also credited the conflict with generating enormous sums for the country, saying his advisers had discouraged him from boasting about the industry’s financial gains.
asserted
advisers → credit → gains
Asked about the president’s position on the industry’s windfall, White House spokeswoman Taylor Rogers told The Post: “President Trump’s top priority is lowering gas prices for the American people, and he has a proven record of driving prices at the pump down to multi-year lows.
asserted
he → ask → lows
“Once the conflict with Iran comes to an end, gas prices will plummet, and the Iranian terrorist regime will not have a nuclear weapon,” he said in a Friday statement.
asserted
he → come → statement
“Just as he promised, the President has unleashed American energy dominance and cemented the United States as the world’s top producer and exporter of oil and natural gas.”
asserted
President → promise → oil
Shares of ExxonMobil and Chevron have each surged roughly 52% this year, with both stocks climbing again Friday after the companies reported stronger-than-expected quarterly earnings.
asserted
companies → surge → earnings
ExxonMobil gained 1.25% to $185.58 in late-morning trading, below its 52-week high of $188.50, giving the company a market value of about $763 billion.
asserted
ExxonMobil → gain → billion
Chevron, meanwhile, rose 1.85% to $235.74, approaching its own 52-week peak of about $236.48, for a market capitalization of roughly $466 billion.
asserted
Chevron → rise → billion
She said refineries were operating near capacity to offset fuel shortages while shipping companies took longer routes and releases from strategic and commercial reserves helped bridge supply gaps.
asserted
releases → say → gaps
“I’m proud of the contribution bp is making to keep energy flowing,” O’Neill said, citing the company’s ability to connect oil and gas production with consumers as a source of “strength and resilience” during the disruptions.
asserted
O’Neill → ’m → disruptions
The Post has sought comment from Chevron, ExxonMobil, Shell and TotalEnergies.
asserted
Post → seek → Chevron
The Aporia
