From oil giants to banks - these companies are making billions from Iran war
Summary
The war involving Iran has caused energy prices to rise sharply, benefiting some companies with big profits. Oil companies, banks, and defense firms have all earned more money because of the conflict and the resulting market changes.Key Facts
- The war disrupted oil and gas shipments through the Strait of Hormuz, pushing up energy prices.
- European oil companies like BP, Shell, and TotalEnergies reported large profit increases in early 2026.
- US oil companies ExxonMobil and Chevron had lower earnings than last year but still beat profit forecasts.
- Major banks including JP Morgan, Bank of America, and Goldman Sachs saw profits rise due to increased trading.
- JP Morgan’s trading division earned a record $11.6 billion in the first quarter of 2026.
- Investors increased trading activity because of market uncertainty caused by the war.
- Defense companies experienced higher demand as governments invested in missile defense and military equipment.
- BAE Systems expects strong sales and profits due to the growth in security threats worldwide.
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