Business is booming for two biggest US oil companies, with both benefiting from higher prices and record production

ExxonMobil and Chevron both reported better than expected quarterly results on Friday as the oil majors benefited from higher prices and record production.

The boon for oil companies has simultaneously been a major pain point for consumers, who say the higher cost of living, especially gas prices, will affect how they vote in the upcoming midterm elections that will determine control of Congress.

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© Photograph: Jenny Kane/AP

© Photograph: Jenny Kane/AP

© Photograph: Jenny Kane/AP

Andrea Egan calls for same political focus on teachers, care sector and NHS and says Jackdaw decision ‘a serious misstep’

• UK politics live – latest updates

The leader of the UK’s biggest trade union has called for the same political focus to be given to NHS, education and care sector workers as there has been on those employed in North Sea oil and gas.

Andrea Egan, the general secretary of Unison, said too often public sector workers were treated as an “afterthought” by the government compared with the “massive political focus” on protecting jobs in the North Sea.

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© Photograph: Gary Calton/The Observer

© Photograph: Gary Calton/The Observer

© Photograph: Gary Calton/The Observer

The Baltic Exchange has received two whistleblowing claims of attempted manipulation of the world’s benchmark tanker rate since the beginning of the war in Iran, according to documents made public as part of a major legal battle with trading house Mercuria Energy Group. 

Oil giant hails ‘banner quarter’ as earnings reach $8.46bn, prompting anger from climate campaigners

BP’s profits have hit their highest level in almost two decades as the war in the Middle East drove up oil and gas prices and led to “significantly higher” trading.

The energy company hailed a “banner quarter” on Friday, with its underlying ​replacement ⁠cost profit – a key measure of its income – almost quadrupling to $8.46bn (£6.3bn), from $2.2bn ​a year ​ago.

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© Photograph: Luke MacGregor/Reuters

© Photograph: Luke MacGregor/Reuters

© Photograph: Luke MacGregor/Reuters

Monitoring channels have described the reported attack as a "resumption of strikes," as it appears to be the first such attack following an unofficial pause in Ukraine's campaign against Russian oil refineries that began in mid-October.