The $130 Billion Oil Boom Fueled by the Iran War

Several oil and gas companies in the United States have benefited from increased trade following the war in Iran that began in February, and from subsequent restrictions on international energy trade. Many countries have been forced to turn to alternative suppliers due to restrictions on movement through the Strait of Hormuz, the critical waterway connecting the Persian Gulf to the Arabian Sea, a shift that has allowed U.S. oil majors to help fill the gap. The Strait of Hormuz has faced severe, ongoing restrictions and a functional blockade since…