Agency (Kathmandu) – Since the US-Israeli attack on Iran on February 28, West Asia has suffered a huge loss of life and property. The world economy is in turmoil. However, even in such an unfavorable situation, some companies are earning ‘attractive’ profits.

The Strait of Hormuz, through which about 20 percent of the world’s crude oil and gas flows, has been blocked since the war began. This has led to a sharp increase in the price of petroleum fuel. Although the price has decreased with the announcement of a ceasefire and peace talks, it has not returned to its previous level. Before the war, Brent crude was trading around $70-72 per barrel. On April 30, its price reached $126.41 per barrel, the highest since the war began. Now it is trading around $100 again.

Large European oil and gas companies have benefited greatly from this fluctuation in fuel prices. Among these companies, British Petroleum has reported an extraordinary profit in the first quarter of this year.

The company's profit in the first quarter of 2026 more than doubled to $3.2 billion compared to last year. Another major petroleum company, Sail, also reported a profit of $6.92 billion in the first quarter.

Total Energies' profit also increased by almost a third to $5.4 billion in the first quarter compared to last year due to the volatility of the oil and energy markets.

American majors Exxon Mobil and Chevron have claimed a decline in profits. They claim that business has decreased due to the blockade of Hormuz. However, oil prices have not yet returned to their pre-war levels. That is why analysts expect their profits to increase by the end of the year.

Meanwhile, the profits of large banks in Europe and the United States have also increased significantly. JP Morgan, the largest bank in the United States, has reported a record $11.6 billion in income in the first quarter. Similarly, large financial institutions such as Morgan Stanley, Citigroup, Goldman Sachs, Wells Fargo and others have also reported an increase in their profits.

‘The large volume of share trading has particularly benefited investment banks such as Morgan Stanley and Goldman Sachs,’ the BBC wrote, quoting Susanna Streeter, chief investment strategist at Wealth Club.

The turnover of major banks in the US stock market has increased significantly as investors have increased their investments in assets considered safe, leaving risky stocks and bonds behind. Analysts have concluded that the increase in trading volume is also due to investors seeking to benefit from the fluctuations in the financial market.

‘The uncertainty caused by the war has led to a surge in trading, with some investors selling shares out of fear of an outbreak of war, while others have bought shares to cover the market decline, which has brought excitement to the market,’ Streeter told the BBC.

The conflict has also benefited arms manufacturers and security providers. Investment in missile defense systems, anti-drone technology and military equipment is increasing in Europe and the US. Governments of various countries have increased their stockpiles of weapons in view of ongoing and possible future wars. This has directly benefited arms companies.

BAE Systems, a company that manufactures parts for the F-35 (35) fighter jet, released a report on Thursday and expected strong growth in sales and profits this year. The company said that the arms trade has become favorable as governments around the world have increased defense spending due to growing security challenges.

Similarly, the world's three largest defense companies, Lockheed Martin, Boeing and Northrop Grumman, have also increased their profits for the first quarter of 2026. The shares of these companies rose by 4 percent to 6 percent on the first day (February 28) of the US attack on Iran. Similarly, the Israeli company Elbic Systems was listed as the country's most valuable company for some time.

While the share prices of large companies in Europe and the UK have fallen, the share prices of security companies have increased. “The conflict has exposed weaknesses in air defense capabilities. This has led to a need for increased investment in missile defense, counter-drone systems and military equipment in the US and Europe,” Emily Savich, a senior analyst at RSM UK, told the BBC.

According to the World Bank, about 10 million Iranian civilians were pushed into poverty between 2011 and 2020 due to Western sanctions. The war is making more people poor.

The war has attracted people from fossil fuels to renewable energy. There has been a demand to increase the use of renewable energy in the US as well. Whereas before the war, the Trump administration’s slogan of ‘Drill Baby Drill’ to increase the use of fossil fuels was popular.

The share price of NextEra Energy, a US renewable energy company based in Florida, has risen by 17 percent this year due to the war. Danish wind energy companies Vestas and Oersted have also reported high profits. UK-based Octopus Energy said the war has boosted sales of solar panels and heat pumps. The company said solar panel sales have increased by 50 percent since February alone.

China has been the biggest beneficiary of the growing use of renewable energy. About 70 percent of the world’s electric vehicles and 85 percent of its batteries are produced in China, according to energy think tank Imber.