The war in Iran has been a boon for oil companies with ExxonMobil and Chevron reporting a combined $26.5 billion in second-quarter profits.

The bumper result comes as energy majors receive a profit boost from soaring fossil fuel prices amid the Iran war.

Shell's profit more than doubles to $9.8 billion amid rising oil prices. Crude oil reaching a new all-time high by December 31 at 14.5% YES.