- Bloomberg reported that Iran-Oman Hormuz talks advanced after Trump halted an attack, alongside easing oil prices and a broad market rally.
- Trump said ExxonMobil and Chevron made too much money during the Iran conflict and said they should return some of it to the public through lower retail and consumer prices.
- Chevron reported Q2 earnings of $12 billion, up from $2.5 billion a year earlier, while ExxonMobil reported $14.5 billion in profit, up from $7.1 billion.
Quotes
“They’re making too much money based on a shortage”
“Chevron, too much money. ExxonMobil, too much money”
“They’re going to give some of that back to the public and they better cut the retail price, the consumer price.”