ENERGY fat cats have seen six-fold rises in the personal shareholdings amid expectations the Middle East crisis will see their companies rake in a massive windfall, it emerged today.

Bosses at four of Britain’s biggest industry giants are among a list of 10 bigwigs from around the world who have seen their holdings leap by a combined £66 million since the crisis began, analysis by the End Fuel Poverty Coalition revealed.

Wholesale prices have soared after US President Donald Trump and Israel launched the war at the end of February. 

Some producers have been unable to sell oil and gas due to Iran retaliating by blocking the Strait of Hormuz.

Household energy prices are now expected to jump by £288 to £1,929 a year by the summer if the war drags on.

Drivers are being hammered by a record leap in pump prices with grocery bills forecast to leap by up to 10 per cent this year, even if the conflict is resolved in the next two to three weeks. 

The war is also estimated to have added billions of pounds to the government’s debt interest payments because of growing investor uncertainty.

End Fuel Poverty Coalition co-ordinator Simon Francis said: “There are very few winners from the conflict in the Middle East, and most of those are the wealthy oil and gas bosses who help set the prices we all pay for our energy.”

Jonathan Bean, a spokesperson for Fuel Poverty Action, part of the coalition, told the Mirror: “The government must act urgently to stop more obscene energy profiteering from war, which will leave millions unable to afford the essential energy they need. Windfall tax loopholes must be removed and fair wealth taxes introduced.”

Caitlin Boswell, interim deputy director at Tax Justice UK, which is not in the coalition, added: “Different parts of the economy are set to make eye-watering paydays as they spot opportunities for profiteering from the US-Israeli war on Iran and immense human suffering, while ordinary people see their energy bills sky-rocket.

“That’s why the Chancellor should urgently implement excess profits taxes on energy, defence and banking sectors — called for by wider civil society — to send a clear message that the UK won’t accept profiteering from war and crisis.”