[Houston Chronicle] Big Oil is making billions from Iran war prices ❝Chevron’s quarterly profits skyrocketed by almost 300% compared with the same period, July through September, in 2025. Exxon Mobil’s net income doubled to $15.3 billion. Oil refiners reported nearly unimaginable profit gains – Phillips66’s refining income grew fourteen fold and San Antonio-based Valero made more during the third quarter than in 2024 and 2025 combined. The companies largely attributed the windfalls to the war in Iran, which continues to help raise the price of diesel and jet fuel, gasoline, and crude oil.❞
