(Bloomberg) -- President Donald Trump scolded ExxonMobil Holdings Corp. and Chevron Corp. for their soaring profits, as oil prices surged amid the war in Iran he launched in February alongside Israel. Trump has come under intense political fire from the economic fallout from the war. In recent weeks, he's pointed to big oil companies as a scapegoat for high fuel prices. Trump in June ordered the Justice Department to investigate why gasoline prices had not fallen, suggesting companies could be engaged in price gouging. Most Read from Bloomberg Businessweek©2026 Bloomberg L.P.