NEW YORK, United States — Energy prices have surged dramatically since the United States and Israel launched their attack on Iran Saturday, and that will almost certainly translate into bigger profits. But the question remains whether the new war in the Middle East also leads to increased oilfield investment. What does the Middle East war mean for US oil industry profits? Geopolitical crises lift oil industry profits if a supply disruption causes commodity prices to spike. That’s what happened after Russia invaded Ukraine. In the third quarter of 2022, ExxonMobil and Chevron reported more than $30 billion in profits between the […]... Keep on reading: Will US oil companies be the big winners from the Iran war?