It is already known that the war between Iran, the USA and Israel is having strong impacts on the world economy – but not everyone loses out.
Many consumers and governments with rising energy costs and greater financial instability; but at the same time, several multinational companies in the oil, banking, defense and renewable energy sectors are recording historic profits.
The case of BP stands out, in the oil and the gas: in the first quarter of this year, it doubled quarterly profits to 3.2 billion dollars (2.7 billion euros).
Shell presented results above analysts’ expectations and reached almost 6 billion euros. TotalEnergies saw profits almost triple in the first quarter of 2026, to just over 4.5 billion euros.
No sector financial, especially in US banks, new extraordinary profits. JPMorgan Chase achieved revenue of practically 10 billion euros in the first three months of the year – the second highest quarterly number ever.
Other financial institutions, such as Goldman Sachs, Morgan Stanley and Citigroup, also recorded significant increases in profits, driven by intense activity in financial markets and demand for assets considered safe. Overall, banks recorded profits of around 40 billion euros in the first three months of 2026.
The sector of defense appears as another of the great winners of the conflict. Companies such as Lockheed Martin, Boeing and Northrop Grumman announced record levels of orders – European and North American governments accelerate investments in anti-missile systems, drones and military equipment.
The war is also boosting the renewable energies. Fear of excessive dependence on fossil fuels has led investors and consumers to seek more stable alternatives. NextEra Energy (shares up 17%), Vestas or Ørsted have benefited from a surge in interest in sustainable energy solutions, while demand for solar panels and heat pumps (up 50% at Octopus) and electric vehicles continues to grow.
