President Donald Trump has publicly criticized ExxonMobil and Chevron, accusing the two energy giants of generating excessive profits from elevated crude prices driven by the ongoing conflict with Iran.
Speaking to reporters at the White House on Monday, Trump stated that the companies are "making too much money based on a shortage" and expressed his dissatisfaction with the situation.
The remarks introduce a new layer of political risk for major U.S. energy producers, which have benefited from sustained high oil prices amid supply disruptions linked to the war.
While the administration has not announced specific regulatory or fiscal measures, the President's comments signal potential scrutiny of corporate earnings in the energy sector.
Brent crude remains elevated as shipping risks persist in the Strait of Hormuz, keeping supply concerns at the forefront of market pricing.
The conflict, now in its second month, has disrupted key export routes and kept a premium on global oil benchmarks.