Nine big oil firms on track to share more than $95bn profit two quarters in a row

Windfall for oil corporations such Saudi Aramco and BP comes on back of soaring fuel prices driven by Iran war

The world’s biggest oil companies are on track to amass profits of more than $95bn (£71bn) in the third quarter as the war in the Middle East drives up the price of fossil fuels.

The windfall war profits have sparked calls for oil corporations such as Saudi Aramco and BP to pay for environmental damage and help the world transition towards renewable energy.

Analysis by the investment broker AJ Bell has found that nine of the biggest listed oil producers are on course to make more than $95bn in the three months to the end of September.