Big Oil Profits in War Fuel Anger From Governments

United States Oil Fund (AMEX:USO) traded at 130.91 dollars on August 20, up a modest 0.19% on the day, sitting comfortably inside its 52 week range of 102.42 to 142.33 and carrying a relative strength reading of 57.81, a level that signals steady buying interest without tipping into overbought territory. The move looks small on the surface, but it comes at a moment when talk of big oil profits in war has become impossible for policymakers to ignore.

Why War Premiums Keep Showing Up In The Barrel Price

Earlier this year, hostilities involving the United States, Israel and Iran sent crude prices sharply higher after Tehran moved to restrict traffic through the Strait of Hormuz, a threat it had voiced for decades but never actually carried out. Brent crude pushed past 100 dollars a barrel as the initial shock rippled through markets, then found further support as the resulting production squeeze added its own momentum. Prices never climbed to the extremes seen in 2022, but many governments entered this episode in weaker fiscal shape than they were four years ago, which made the squeeze feel sharper politically even if the barrel price itself was lower.

Retail Gasoline And The Political Backlash

In the United States, pump prices topped 4 dollars a gallon, stirring fears of a recession if the conflict dragged on. President Trump placed blame squarely on the oil industry, accusing companies of price gouging and directing the Justice Department to investigate. On TruthSocial he argued that oil companies were not passing along falling crude costs, writing that prices were dropping

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