# Oil profits surge as Middle East conflict drives energy prices, Trump attacks earnings

Major oil companies are posting sharply higher profits as the Middle East war pushes energy prices up. President Trump publicly criticized the soaring earnings. This highlights the tension between industry gains and consumer costs amid geopolitical instability.

**Importance:** 4/5

## Sources

### Business
- [The Guardian Biz](https://www.theguardian.com/business/live/2026/aug/04/oil-profits-spike-middle-east-war-energy-prices-donald-trump-business-live-economy-latest-news-updates) — Tue, 04 Aug 2026 06:42:18 GMT