Dossier
Patrick Galey
Coverage of Patrick Galey in the Nexus archive.
- Major oil companies reap massive profits as US and Iran fighting drives energy prices higher
American oil companies Exxon Mobil and Chevron reported significant profit increases during the spring as U.S.-Iran tensions disrupted oil shipments and global fuel prices surged. The conflict, which blocked shipping through the Strait of Hormuz, drove Brent crude prices above $100 a barrel, leading to higher revenues for major oil producers.