Iran war

One of the more surprising consequences of the Iran war has been the resilience of global oil supplies, despite disruption around the Strait of Hormuz – the world’s most important oil shipping chokepoint.

While many analysts initially feared far more severe shortages and price spikes, growing oil production across North and South America has helped stabilize global markets and highlighted a broader shift taking place within the energy industry.

According to analysis published by The Conversation, countries including the United States, Brazil, Canada, Guyana and Argentina are rapidly increasing production and exports, helping offset supply disruptions from the Middle East. [Read more…] about Americas oil boom challenges Middle East dominance as global energy markets shift

The war involving Iran is generating enormous profits for some of the world’s largest oil and gas companies, even as consumers and businesses face rising fuel and energy costs.

According to an analysis by environmental organization Global Witness using data from energy research firm Rystad Energy, the world’s 100 largest oil and gas companies earned an estimated $23 billion in additional profits during the first month of the conflict alone.

The report estimates that if oil prices remain elevated throughout 2026, those extra profits could rise to as much as $234 billion by the end of the year. [Read more…] about Oil companies earning billions from Iran war as fuel prices rise worldwide