WASHINGTON — President Donald Trump lashed out at ExxonMobil and Chevron on Monday, accusing the two oil giants of making excessive profits from surging crude prices tied to the ongoing conflict with Iran and demanding they lower prices for American consumers.

Speaking to reporters at the White House during an executive order signing, Trump singled out both companies by name over their recently reported second-quarter earnings. “Chevron, too much money. ExxonMobil, too much money,” Trump said, adding that the companies “better cut the retail price, the consumer price” and return some of their profits to the public.

Record profits amid a supply shock

Trump’s comments followed second-quarter earnings reports last week that showed both companies posting sharply higher profits compared with the same period a year earlier. ExxonMobil reported earnings of $14.5 billion for the quarter, roughly double what it earned during the same period last year. Chevron reported $12 billion in quarterly profit, up from $2.5 billion a year earlier, marking a roughly 400% increase and the company’s highest quarterly earnings in at least six years. Combined, the two oil majors posted $26.5 billion in second-quarter earnings.

“They’re making too much money based on a shortage,” Trump said, framing the profits as a direct consequence of the supply disruption caused by the conflict rather than normal market performance. “I don’t like it.”

Oil prices surge as the Strait of Hormuz remains contested

The earnings windfall for both companies has come amid a dramatic run-up in oil prices since the United States and Israel launched coordinated strikes against Iran on Feb. 28. U.S. crude oil prices have climbed roughly 20% since the conflict began, with oil futures averaging around $92 per barrel from April through June, about 27% higher than the first quarter of the year. Iran has retaliated by attempting to choke off oil exports through the Strait of Hormuz, a critical global shipping corridor, triggering what has been described as the largest supply disruption in the region’s history.

Those higher crude prices have translated directly into pain at the pump for American drivers. Gasoline prices averaged about $4.10 per gallon nationwide on Monday, according to AAA data, nearly 40% higher than the $2.98 per gallon drivers paid on Feb. 27, the day before the war began.

Trump pressures companies to share profits

Trump was blunt in his demand that the oil companies pass along relief to consumers, drawing a direct comparison between the scale of their profit growth and what he argued they owed the public in return. “When you look at one company, where they made 12 times what they made the year before, they’re going to give some of that back to the public, and they better cut the retail price, the consumer price,” Trump said.

The president acknowledged the apparent tension between his criticism and his broader economic philosophy, noting his general support for free markets even as he pushed the companies to act. “I should be the last one to say it because I’m a big free enterprise guy,” he said, adding, “Nobody bigger.” Still, he made clear his frustration with the current situation. “I’ll say it loud and clear. I’m not happy about it,” Trump said.

A prediction of falling prices ahead

Despite his criticism of the oil companies’ current profits, Trump expressed optimism that prices would ease significantly once the conflict with Iran concludes, predicting that oil prices would “drop through the floor” when the war ends. His comments came as he separately addressed the state of ongoing negotiations with Iran, describing the current round of talks as Iran’s “last chance” to reach a deal and accusing Iranian leadership of being “unbelievably duplicitous” in recent discussions with Oman over safe navigation routes through the Strait of Hormuz.

Where the profits are going

According to reporting on the companies’ earnings, both ExxonMobil and Chevron directed their windfall profits primarily toward reducing existing debt rather than increasing share buybacks, a detail that stands somewhat apart from the more consumer-focused response Trump has called for. Neither company had issued a public response to Trump’s comments as of Monday, though shares of both companies dipped modestly following his remarks, with Chevron falling nearly 2% and Exxon trading slightly lower.

A politically charged issue

Trump’s public criticism of the oil industry echoes similar rhetoric used by his predecessor, former President Joe Biden, who also targeted oil companies over their profits during periods when inflation was weighing heavily on American consumers. The political stakes tied to gas prices appear significant for Trump as well: a Quinnipiac University poll found that 54% of voters blame the president “a lot” for the recent rise in gasoline costs, a finding that comes as the administration faces broader scrutiny over its handling of both the Iran conflict and its economic fallout ahead of November’s midterm elections.

Market context

Even as Trump criticized the oil companies’ profits, broader oil markets showed signs of easing Monday, with Brent crude, the international benchmark, falling nearly 5% to around $83 per barrel amid growing optimism that a diplomatic resolution to the Iran conflict may be within reach. That decline came the same day the Dow Jones Industrial Average closed at a record high, driven in part by falling oil prices and a broader rally in technology stocks.

With earnings season for the major oil companies now largely behind investors, attention is likely to shift toward whether Exxon and Chevron respond in any way to Trump’s public pressure, and whether ongoing diplomatic talks between the U.S. and Iran over the Strait of Hormuz produce the kind of resolution the president has suggested could send oil prices sharply lower. Until then, American drivers are likely to continue facing elevated prices at the pump, keeping pressure on both the White House and the oil industry as the conflict’s economic fallout continues to unfold.

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AstraZeneca

AZN

2.09%

increase; up pointing triangle shares fell sharply and Bristol Myers Squibb’s BMY 1.13%increase; up pointing triangle climbed, after media reports that the two drugmakers held merger talks.

London-listed shares in AstraZeneca were down 6.4% in European morning trading. Meanwhile, Bristol’s shares were up 5.5% in U.S. premarket trading.

Four years after the initial public offering (IPO), which had fetched Rs 21,000 crore, the government launched LIC’s offer for sale (OFS), looking to sell up to 6.5% stake. This in size compares with the upcoming mega IPO offerings of the NSE and Reliance Jio Platforms.

Through the two-day OFS, the government is selling up to 6.5 per cent stake or over 82.22 crore in the country’s largest insurer LIC at a floor price of Rs 382/share.

The issue comprises a base offer size of 2.5 per cent, with a green shoe option of 4 per cent.

The issue will open for retail investors on Wednesday.

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Institutional investors put in bids for over 94.45 crore shares, at an indicative price of Rs 383.84/share. The bids are valued at Rs 36,400 crore at the indicative price bid.
Shares of LIC slid 7.86 per cent to close at Rs 391 on the BSE. Its market capitalisation stands at Rs 4.95 lakh crore.The floor price of Rs 382/share was set at a 10 per cent discount over Monday’s closing price of Rs 424.35 on the BSE.

At the floor price, the sale of over 82.22 crore shares, or a 6.5 per cent stake at the given floor price will fetch about Rs 31,000 crore to the disinvestment kitty.

The stake sale will help LIC achieve the minimum public shareholding requirement mandated by market regulator Sebi ahead of schedule.

Sebi had given LIC time till May 16, 2027, to achieve a minimum 10 per cent public shareholding.

At present, the government holds a 96.5 per cent stake in LIC.

It had earlier sold 3.5 per cent through an initial public offering (IPO) in May 2022 at a price band of Rs 902-949 per share, raising about Rs 21,000 crore.

In April 2026, the LIC board approved a 1:1 bonus issue.

So far in the current fiscal year, the government has mopped up Rs 21,082 crore through stake sale in seven public sector undertakings and remittances from SUUTI (Specified Undertaking of the Unit Trust of India).

The Evolution of Modern Himalayan Trekking: The Changing Face of the Annapurna Region

Annapurna continues to be one of the most popular trekking destinations in Nepal, providing stunning views of the mountains, traditional villages, and a variety of landscapes and experiences. Today’s trekkers aren’t just interested in scenery; they are interested in time, challenge, safety, comfort, and even what type of adventure they want.

The 7 Days Annapurna Base Camp Trek and the Annapurna Circuit trek are two of the most popular treks here. The Circuit is a longer trek, traversing the diverse landscapes and cultures of the Annapurna massif, while the ABC trek is a shorter route that will lead straight to the heart of Annapurna Sanctuary.

A Geographical Blueprint: Mapping the Annapurna Sanctuary vs. the Great Circuit Loop

This is a 7-day Annapurna Base Camp Trek, which is a direct route to Annapurna Base Camp. It then goes through some beautiful Gurung villages, forests, waterfalls and mountain valleys and arrives at Annapurna Base Camp (4130m). The sight of the Annapurna I, Annapurna South, Hiunchuli and Machhapuchhre is a magnificent sight from the destination.

The Annapurna Circuit Trek is a long trek around the Annapurna range. The trail then goes through green valleys, villages for farmers, high altitude deserts and villages influenced by Tibetan culture before it reaches Thorong La Pass at 5416 m.

ABC targets one amazing mountain, and Circuit offers a full circuit of the Himalayas.

Deconstructing the 7 Days Annapurna Base Camp Trek: Route Highlights and Daily Experience

The 7-day Annapurna Base Camp trek package is for those who are looking for a short-duration trek to the Himalayas. The trek from Pokhara is a blend of mountain beauty, cultural experiences, and the rigors of trekking in a short period.

The walk goes through Ghandruk and Chhomrong, both traditional villages, before entering the Modi Khola valley. After trekking through the forests and the alpine scenes, the trek will continue to reach the base of Machhapuchhre and ultimately the Annapurna Base Camp.

The summit of the hike is at an altitude of 4,130 m. The trip is shorter, so it is imperative that the trekker be in good condition and prepared. Typically, walks are done on a daily basis of about 5–8 hours, particularly in the more difficult areas around the base camp.

The price of the 7 Days Annapurna Base Camp Trek is generally priced from Nepal High Trek from $450 to $700 per person, depending on the group size and services. Services offered in the packages are guide support, permits, tea house accommodation, meals during the trek, transportation, and trekking assistance.

The Classic Endurance Journey: Crucial Milestones of the Annapurna Circuit Trek

The Annapurna Circuit Trek is a long-distance trek in Nepal that is one of the country’s classic treks. The difference with the route compared to the ABC route is that you have the possibility to visit the whole of the Annapurna region.

The path passes through various biomes, subtropical forests, terraced farms and dry Himalayan valleys. Trekking along the way, visitors can enjoy a unique culture, Buddhist monasteries and traditional mountain living.

The highest point to cross is Thorong La Pass (5416m). The trek is longer, giving an opportunity to see the Himalayas in a deeper way, as the longer trek affords more opportunity to acclimatize.

Time vs. Terrain: A Head-to-Head Comparison of Duration, Distance, and Difficulty

The most significant difference between these two treks is the amount of time they will take.

7 Days Annapurna Base Camp Trek is ideal for those who have a limited holiday. But on this shorter tour, you will be walking longer days and walking faster.

The Annapurna Circuit takes longer, about 12 to 16 days, but offers a more diverse landscape, cultural experiences, and a more gradual rise in elevation.

If you’re seeking a short trip in the Himalayas, then ABC is for you, but if you want a full trekking experience, then the Circuit is for you.

The Altitude Curve: Comparing Acclimatization Strategies for Annapurna Base Camp and Thorong La Pass

There is a need to manage altitude on both routes.

The ABC trek is 4130m in altitude and needs to be done in a well-paced and well-prepared manner. Lower than Thorong La Pass, but the condensed seven-day trek will require the trekkers to be physically fit for constant ascents.

The Annapurna Circuit is at a higher elevation, reaching Thorong La Pass at 5,416m. However, the longer route will give more time to acclimatize.

Both hikes are a challenge at altitude and require water, clothing, and knowledge of this.

Amphitheater Walls vs. Trans-Himalayan Rain Shadows: How the Landscapes Differ

Both of these routes are unique in their landscape, which results in very different experiences.

The ABC route provides an opportunity for spectacular close-up views of the mountains. The peaks around the sanctuary area start to grow in size and grandeur, as trekkers approach the sanctuary.

The Annapurna Circuit offers more of a geographical variety, from green hills to dry high-altitude terrain.

ABC is a popular route for those looking for dramatic mountain scenery, and the Circuit is a popular one for those looking for changing scenery.

Gurung Hospitality and Tibetan High-Alps: Comparing Culture, Villages, and Teahouse Life

One of the best points of the Annapurna trek is its culture.

The ABC route takes the trekkers to the Gurung and Magar villages where the visitors will get to experience the traditional village way of life, local food and the hospitality of the Himalayas.

The Annapurna Circuit provides more cultural experience that includes Tibetan villages, monasteries, and ancient traditions.

Both routes offer teahouse lodging, which offers basic lodging, local food, and a chance to meet mountain people.

The Insider Strategy: Using Alternative Trails to Avoid Jeep Roads

The Circuit is located in some areas of the Annapurna region that have been altered by road construction. There have been improvements in the roads, which makes travelling around the area easier, but many trekkers choose to take alternative walking routes for a more authentic experience.

The ABC route is still more geared toward traditional trekking as there are few roads in the sanctuary area.

The Weight Factor: Essential Gear for Both Annapurna Treks

Both trips can be fun when you’re well-prepared. Essential items include:

• Quality trekking boots
• Warm layers
• Waterproof jacket
• Trekking poles
• Sleeping bag
• Sunglasses and sunscreen
• Personal medication

It is particularly crucial to light pack the 7 Days ABC Trek because of the quicker pace.

Understanding Permits, Best Seasons, and Weather Windows

There are required permits for both treks, including the Annapurna Conservation Area Permit.

The best seasons are:

• Spring (March-May): Perfect for flowers, nice weather, and viewing the mountains.
• Autumn (September-November): Stable weather, good visibility.

Nepal High Trek also emphasises the spring and autumn seasons as the best time for the 7 Days Annapurna Base Camp trek.

Choosing Between the Annapurna Circuit Trek and the 7 Days Annapurna Base Camp Trek

It’s a matter of choice, based on your travel objectives.

7 Days Annapurna Base Camp Trek is suitable for those who wish to have a shorter trip with stunning views of the mountains and rich cultural experiences along the way. Nepal High Trek packages are available from USD 485 per person, making it a viable choice for those on a time constraint.

Annapurna Circuit Trek is more for trekkers who prefer a longer trek over the different landscapes, culture, and across Thorong La Pass.

Conclusion: Finding Your Perfect Annapurna Adventure

The Annapurna Circuit Trek and the 7 Days Annapurna Base Camp Trek are both remarkable and memorable Himalayan treks. ABC offers a shorter but no less intense experience in the heart of the mountains, and the Circuit offers a longer experience of discovering culture, changing landscapes, and all the mountains have to offer.

The perfect hike is yours to find, depending on exactly how much time you have, how physically fit you are, and what kind of hike you’re looking for. Annapurna offers a host of experiences that are guaranteed to be unforgettable, whether it’s the serene hikes to Annapurna Base Camp or the famed trek across Thorong La Pass.

We’re Nepal High Trek and Expedition Pvt. Ltd., based in Kathmandu, specializing in treks, climbs, and more for solo travelers and private groups.

Contact us at info@nepalhightrek.com or WhatsApp +977 9851142116.