Oil giants are facing renewed criticism after reporting billions of pounds in profits, with campaigners accusing the industry of profiting from conflict while the climate crisis intensifies. Both BP and Shell have posted bumper earnings following a rise in global oil prices triggered by disruption to supplies during the Iran conflict. As attacks disrupted traffic through the waterway, benchmark crude prices climbed sharply, boosting revenues for the world’s largest fossil fuel producers. Despite these increasingly severe climate impacts, BP has reaffirmed its commitment to expanding fossil fuel production, reversing previous plans to reduce oil and gas output. Environmental groups say the latest profits strengthen the case for governments to increase taxes on extraordinary fossil fuel earnings and accelerate investment in clean energy.