Trump criticizes Exxon and Chevron over profits tied to higher oil prices

President Donald Trump said ExxonMobil and Chevron made too much money as crude prices rose during the Iran conflict, and he said he wants some of those gains returned to consumers. The comments came after both companies reported strong secondquarter profits. Chevron said earnings rose sharply from a year earlier, while Exxon also posted a large increase in profit. Oil prices have climbed since the conflict began, and gasoline costs have also moved higher in the U.S. Shares of both energy companies fell after Trump’s remarks, while crude prices eased on hopes that tensions might not worsen.