Oil Giants Post Record Profits Amid Iran War

America's biggest oil companies are reaping massive windfalls as the Iran war disrupts energy markets and forces tankers to avoid the Strait of Hormuz.

Chevron's profit topped its previous high, while Exxon Mobil's earnings soared.

The profits come as consumers face higher fuel prices and the US economy slows.

Economists warned that the energy-driven inflation could complicate the Federal Reserve's policy path.