LONDON — Multinational firms in the energy, banking and defense sectors booked record first-quarter profits as the ongoing war between Iran, the United States and Israel disrupted global supply chains and pushed up living costs worldwide.
Iran’s effective closure of the Strait of Hormuz has created widespread uncertainty in energy markets, fueling budget deficits and inflation but delivering windfall gains to a handful of sectors.
According to first-quarter 2026 trading reports, energy, banking and defense companies reported exceptional earnings during the wartime period.
European oil majors have emerged as the biggest beneficiaries of the crisis. The shutdown of about a fifth of global oil and gas flows through the Strait of Hormuz drove market volatility that companies including BP and Shell were positioned to exploit.
BP’s profit more than doubled to $3.2 billion in the first three months of the year. Shell reported $6.92 billion and TotalEnergies $5.4 billion. U.S. majors ExxonMobil and Chevron saw earnings dip from a year earlier because of supply disruptions but still beat analyst expectations and forecast larger profits ahead as oil prices climb.
The financial sector has also benefited. Volatility in stocks and bonds and a flight to safe-haven assets boosted earnings at major banks. JPMorgan Chase posted record first-quarter revenue of $11.6 billion, one of its best quarters ever.
Six large U.S. banks, including Goldman Sachs and Morgan Stanley, together earned $47.7 billion in the first quarter. Surging trading volumes as investors repositioned amid the volatility delivered the banks large commissions and trading profits.
Defense contractors have also won large contracts as a result of the war. The Iran conflict has sent demand soaring for air defense systems, counter-drone technology and military hardware. BAE Systems, Lockheed Martin and Boeing said they have received some of the largest orders in their histories.
Governments around the world are investing heavily to replenish weapons stockpiles as security risks rise. Arms manufacturers are treating the environment as supportive for their business.
The conflict has also energized the renewable energy sector. Pressure to reduce dependence on fossil fuels has lifted demand for solar and wind power worldwide.
Shares and profits at companies including Florida-based NextEra Energy and Denmark’s Vestas have risen sharply. Solar panel sales in the United Kingdom have climbed about 50 percent since February, and high petrol prices have boosted demand for electric vehicles. Even as ordinary consumers struggle with rising prices, the war is delivering billions of dollars in additional revenue to large corporations.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report