Oil giants are raking in huge profits while the Iran war keeps oil prices high — great for Exxon and Chevron, bad for regular Americans paying at the pump.

• The Strait of Hormuz is still gridlocked, with Iran claiming it hit two tankers under US escort, keeping oil flowing slowly and prices high.
• Exxon Mobil made $14.5 billion in profit in one quarter, more than double a year ago; Chevron's profit jumped nearly 400% to $12 billion.
• On top of those profits, oil companies get about $35 billion a year in government handouts and tax breaks, with over $4 billion added this year under Trump and Republicans.
• The claim that the war would keep gas prices low has not held up — prices stayed high while the companies cashed in.

Outlook: As long as the war drags on and the strait stays blocked, oil prices and oil company profits will likely keep climbing.