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.
"They're making too much money based on a shortage," Trump said Monday.
"I don't like it."
The comments introduce a new layer of political risk for major US oil producers, which have benefited from supply disruptions linked to the two-month-old military engagement.
While the administration has previously focused on broader inflation concerns, this direct targeting of specific corporate earnings marks a shift in rhetoric that could influence market sentiment toward the sector.
ExxonMobil and Chevron shares have been supported by higher benchmark prices as shipping routes and supply chains face pressure from the geopolitical standoff.
The president's dissatisfaction with the financial outcomes for these companies may signal potential regulatory scrutiny or policy interventions aimed at curbing what he views as war profiteering.