Conflict Timeline

Equinor reported adjusted profits of $11.5 billion for the three months ending June, nearly double the prior-year amount. The results were driven by higher oil and gas prices and increased production volumes during a period of elevated Brent crude prices, which ranged from about $75 to over $100 per barrel.

Company statements attributed the gains to market conditions following reduced shipments through the Strait of Hormuz and subsequent shifts in global supply.