The Globe and Mail reports in its Wednesday, Aug. 5, edition that big oil companies are seeing significant profits as fighting in Iran disrupts energy markets, driving oil and gasoline prices higher. An Associated Press dispatch to The Globe reports that Europe's six largest oil companies reported a combined $22-billion in first quarter profits, a 40-per-cent increase from last year (all figures U.S.). This surge follows reports of huge profits from major U.S. oil drillers. In the West, consumers face higher prices for fuel and flights. However, parts of Asia are in a more critical situation due to their reliance on fuel exports through the Strait of Hormuz. Some countries are experiencing low fuel supplies, leading to rationing and temporary closures of schools and government offices. Despite oil prices falling to their lowest level in three weeks Tuesday, big U.S. energy companies drew the ire of President Donald Trump, who criticized them this week for their outsized profits. Mr. Trump said he's not happy with Chevron and Exxon Mobil, though energy prices skyrocketed only after the U.S. and Israel attacked Iran in late February, and the Strait of Hormuz was effectively closed off to tanker traffic.