US oil companies see big profit jump, gird for clash over pump prices with Trump

U.S. oil companies are expected to post their strongest quarterly profits in years, which is supportive for sector earnings momentum. However, the prospect of a direct clash with President Trump—who is urging Big Oil to lower gasoline prices ahead of the November midterms—introduces headline and policy risk for the group despite the profit outlook.

Analysis

U.S. oil companies are expected to post their strongest quarterly profits in years, which is supportive for sector earnings momentum. However, the prospect of a direct clash with President Trump—who is urging Big Oil to lower gasoline prices ahead of the November midterms—introduces headline and policy risk for the group despite the profit outlook.