The companies making billions from the Iran war
The companies making billions from the Iran war are seeing record earnings while the Middle East conflict continues. The uncertainty sparked by the conflict and Iran's effective closure of the Strait of Hormuz is driving up the cost of living and hitting the budgets of firms, families and governments. The biggest economic impact of the war so far has been a surge in energy prices.
BP's profits more than doubled to $3.2bn (£2.4bn) for the first three months of the year, after what it called an "exceptional" performance in its trading division. Shell also beat analysts' expectations when it reported a rise in first-quarter profits to $6.92bn. TotalEnergies saw its profits jump by almost a third, to $5.4bn in the first quarter of 2026, driven by volatility in oil and energy markets. JP Morgan's trading arm made a record $11.6bn of revenue in the first three months of 2026, helping the bank overall to its second biggest ever quarterly profit. The banks reported $47.7bn in profits for the first three months of 2026. Susannah Streeter, chief investment strategist at Wealth Club, said, "Heavy trading volumes have benefited investment banks, in particular Morgan Stanley and Goldman Sachs."
BAE Systems expects strong growth in sales and profits this year. It cited growing "security threats" around the world pushing up government defence spending, which has in turn created a "supportive backdrop" for the company.
Quick Summary
The conflict in Iran has created uncertainty and disruption, impacting firms, families, and governments worldwide. While some struggle, certain sectors are seeing record earnings- but who is profiting from the ongoing crisis?
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