​Foreign oil company profits double with assist from Trump's moves: NYT

Major energy companies are reaping enormous profits from the ongoing Strait of Hormuz stalemate triggered by Donald Trump's war on Iran, with European oil giants reporting dramatic earnings surges while American producers sit on the sidelines, the New York Times is reporting.

British energy giant Shell reported robust first-quarter profits Thursday, with adjusted earnings soaring 24 percent to $6.92 billion — more than twice what the company earned in the previous quarter and significantly higher than analyst expectations.