Equinor Profits Double to $11.5bn as US-Israel War on Iran Boosts Oil Prices

Norway's state oil company Equinor saw its quarterly profits nearly double to $11.5bn (£8.6bn) in the three months to the end of June. The surge was driven by soaring oil and gas prices following the US-Israel war on Iran and the throttling of shipping through the Strait of Hormuz. Equinor ramped up production to fill the gap left by reduced Gulf oil flows.