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Bloomberg MarketsKKR-Backed Infinx Services Said to Weigh $300 Million India IPOBloomberg MarketsBond Funds Turn to Europe as Global Risks Become Harder to PriceFinancial TimesBP to sell $4bn US biogas business as profits more than doubleBloomberg MarketsAramco Says July Attacks Had No Material Impact on OperationsBloomberg MarketsSavary: Dollar Dominance to Remain for DecadesBloomberg MarketsBP CEO Says Company Needs to Strengthen Balance SheetBloomberg MarketsHSBC to Consider Hiking Bonus Pool If Performance Keeps UpBloomberg MarketsAsia Stocks Drift Lower as Korea Volatility Tests Tech Rally | Insight with Haslinda Amin 8/04/2026Bloomberg MarketsUS Defense Agency Cancels Plan to Buy $300 Million of LithiumBloomberg MarketsBP CEO: Decision to Exit North Sea Wasn't Made Lightly (Video)Bloomberg MarketsCopper Marches Closer to $14,000 as Flows to US Tighten MarketBloomberg MarketsHorizons Middle East & Africa 8/4/2026Bloomberg MarketsEurope’s Earnings Are Much Stronger Than They LookBloomberg MarketsFTSE 100 Live: UK Stock Futures Rise, Pound Eases on Busy Earnings DayBloomberg MarketsHSBC's Elhedery on Buybacks and Vision for Bank OverhaulBloomberg MarketsKKR-Backed Infinx Services Said to Weigh $300 Million India IPOBloomberg MarketsBond Funds Turn to Europe as Global Risks Become Harder to PriceFinancial TimesBP to sell $4bn US biogas business as profits more than doubleBloomberg MarketsAramco Says July Attacks Had No Material Impact on OperationsBloomberg MarketsSavary: Dollar Dominance to Remain for DecadesBloomberg MarketsBP CEO Says Company Needs to Strengthen Balance SheetBloomberg MarketsHSBC to Consider Hiking Bonus Pool If Performance Keeps UpBloomberg MarketsAsia Stocks Drift Lower as Korea Volatility Tests Tech Rally | Insight with Haslinda Amin 8/04/2026Bloomberg MarketsUS Defense Agency Cancels Plan to Buy $300 Million of LithiumBloomberg MarketsBP CEO: Decision to Exit North Sea Wasn't Made Lightly (Video)Bloomberg MarketsCopper Marches Closer to $14,000 as Flows to US Tighten MarketBloomberg MarketsHorizons Middle East & Africa 8/4/2026Bloomberg MarketsEurope’s Earnings Are Much Stronger Than They LookBloomberg MarketsFTSE 100 Live: UK Stock Futures Rise, Pound Eases on Busy Earnings DayBloomberg MarketsHSBC's Elhedery on Buybacks and Vision for Bank Overhaul
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CNBC Top Newsmarkets

BP profit more than doubles as Trump blasts Big Oil for ‘making too much money’

CNBC Top News
Tuesday, August 4, 2026 at 7:27 AM
~4 min read
InflationEnergy

Original Report

The result come after U.S. President Donald Trump lashed out at Big Oil for making "too much money" off higher fuel prices amid the Iran war.

Glass House Analysis

Inflation is the silent tax that erodes purchasing power, hitting hardest those who can least afford it. When grocery bills rise faster than wages, families face impossible choices between food, medicine, and rent. Unlike market volatility that mainly affects investors, inflation touches everyone who buys groceries, fills a gas tank, or pays rent.

Energy prices affect virtually every aspect of daily life—from commuting costs to heating bills to the price of groceries (which must be transported). For working families, energy represents one of the most volatile and impactful line items in their budgets. Energy policy decisions ripple through the economy, affecting everything from manufacturing competitiveness to household financial stress.

The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.

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