America’s biggest oil companies are making less money than before the Iran war

exxon and chevron warned that even after the strait of hormuz reopens, it'll take months for oil and gas flows to return to normal. the two biggest american oil companies are now making less money than before the iran war started. the conflict disrupted shipping through the narrow chokepoint, which handles about a fifth of the world's oil supply. exxon and chevron both cited the ongoing instability and the time needed to repair damaged infrastructure and rebook tankers. the profit squeeze comes despite higher crude prices, as volumes dropped sharply and costs rose.