Despite the ongoing economic challenges for households and governments around the world, the US-Iran is creating huge profits for global oil industries. The fighting and Iran’s near-total closure of the Strait of Hormuz a key global oil and gas artery, representing almost 20% of the world’s supply have pushed energy prices and stock markets into turmoil. This has greatly benefited the major oil companies banking, defense and renewable energy sectors. Big oil companies such as BP, Shell, and TotalEnergies have made billions of dollars from the swings in crude oil prices.

Leading financial institutions on Wall Street like JPMorgan Chase and Goldman Sachs also had increased their business, which resulted in more trading activities during the time of market instability. After that, the defense companies BAE Systems, Lockheed Martin, and Boeing capitalized on this opportunity to boost their sales as governments increased military budgets and weapons restocking.

Also, higher fuel prices and concerns over energy supply have caused a ramp-up in investments in renewables, and as a result, companies like NextEra Energy and Vestas have been able to report improved performance.

Experts note that the ongoing conflict is causing fundamental changes to the global economy with energy, defense and financial trading industries being the major market winners of the present crisis.