Equinor Profits Nearly Double to $11.5B as Iran Conflict Drives Up Oil Prices

Equinor's Q2 2026 adjusted operating income reached $11.5 billion, nearly double last year's $6.5 billion and above analyst expectations of $11.37 billion. Brent crude (the global oil benchmark) swung from $75 to over $100 per barrel, up from $60–$70 a year earlier, as the US-Iran conflict disrupted Strait of Hormuz shipping. Equinor ramped production to fill the supply gap.