LONDON, United Kingdom: While households and businesses around the world struggle with rising fuel and energy costs linked to the Iran conflict, several major global corporations are reporting sharp increases in profits as volatility shakes international markets.
According to a report by BBC News, sectors including oil and gas, banking, defence and renewable energy have emerged as some of the biggest financial beneficiaries of the ongoing Middle East conflict and disruption in the Strait of Hormuz.
Oil and gas giants
The biggest gains have come from the energy sector as oil and gas prices surged after Iran effectively tightened control over the Strait of Hormuz, a key global shipping route for energy supplies.
BP reported first-quarter profits of $3.2 billion, more than double the previous period, helped by strong trading activity during volatile market conditions.
Shell posted profits of nearly $6.92 billion, beating analysts’ expectations as soaring oil prices boosted earnings.
French energy giant TotalEnergies also recorded a sharp rise in profits, reaching $5.4 billion during the first quarter of 2026.
US oil majors ExxonMobil and Chevron also exceeded market expectations despite regional supply disruptions.
Wall Street banks
Major US banks benefited from heightened financial market volatility as investors rushed to trade stocks, commodities and safe-haven assets.
JPMorgan Chase generated a record $11.6 billion in trading revenue during the first three months of 2026.
Other banking giants including Goldman Sachs, Morgan Stanley, Citigroup and Bank of America also posted strong quarterly earnings.
Defence industry boom
Rising military tensions have also boosted defence companies as governments seek to replenish weapons stockpiles and strengthen air defence systems.
BAE Systems said it expects strong sales growth this year amid increasing global security threats.
US defence contractors Lockheed Martin, Boeing and Northrop Grumman have also reported record order backlogs.
Renewable energy firms
The conflict has also accelerated interest in renewable energy as governments and investors seek alternatives to fossil fuel dependence.
NextEra Energy has seen strong investor interest this year, while Danish wind energy companies Vestas and Ørsted reported rising profits.
British energy supplier Octopus Energy said demand for solar panels and heat pumps has surged since the conflict intensified earlier this year.
