India, July 5 -- U.S. oil companies are set to report their strongest quarterly profits in years, courting a possible clash with President Donald Trump, who has been pressing his longtime ally Big Oil to bring down gasoline prices before midterm elections in November.

After months of Americans complaining about pain at the pump, Exxon Mobil and Chevron are expected to report second-quarter earnings in the coming weeks that are more than triple first-quarter levels. Oil prices spiked after the U.S.-Israeli war on Iran began in late February and global fuel supplies tightened. Oil companies' profits are forecast to rise to their highest levels since 2022. The expected bonanza could complicate the normally warm relationship between Trump an...