Why are oil companies posting record profits amid Iran war disruption?

The closure of the critical Strait of Hormuz in the Middle East has disrupted global energy flows, causing oil prices to spiral for months and impacting energy markets worldwide.

Thousands of miles away from the Persian Gulf, household prices have soared in the United States and Europe, as the so-called Big Oil companies bag astonishing profits from the fallout of the war on Iran.

Companie...