Shares in big oil companies have soared to all-time highs since the war in Iran began and sparked historic price rises on global oil and gas markets.

The combined market value of the six stock market-listed western “super majors” has soared by more than $130bn in the two weeks since the first US-Israeli attacks on Iran.

The energy supply shock caused by the conflict has resulted in record stock market valuations for London-listed Shell, Europe’s largest oil company, as well as US oil companies ExxonMobil and Chevron.

The market shock is expected to deliver multibillion-dollar windfalls for the industry, even as sites in the Middle East are hit by the conflict.

US oil companies can expect a $63.4bn boost, according to consultancy…