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Major American oil companies reap massive profits as US and Iran fighting drives energy prices higher

Major American oil companies reap massive profits as US and Iran fighting drives energy prices higher

  • Constrained supplies meant consumers around the world paid more for fuel and confronted shortages
  • But higher prices resulted in elevated profits for some of the biggest publicly traded oil companies
  • Democrats in Congress have proposed taxing oil producers for war-related windfalls
By AP ·