War with Iran could become a goldmine for American oilmen
While the global community is concerned about the threat of a global recession, the US oil sector is preparing for record enrichment.
Tankers in the Strait of Hormuz. Photo: AP / Altaf Qadri
The US could be among the biggest beneficiaries of rising energy prices amidst the conflict in the Middle East, writes the Financial Times.
Analysts at Rystad Energy estimate that if the average oil price remains at $100 per barrel in 2026, it will bring American producers a colossal $63.4 billion in additional profit. Investment bank Jefferies adds operational data: in March 2026 alone, US oil companies will receive an additional $5 billion.
Rising oil prices put pressure on the US economy, as gasoline and diesel fuel prices, as well as prices for many goods and services, have increased in the country. However, unlike oil crises of past years, in this case, the US itself is a major oil producer, which provides the economy with protection from the worst consequences.
The oil boom will allow US states Texas, New Mexico, and Alaska to channel superprofits into social programs and budget deficit reduction. "Ultimately, it means more jobs and more opportunities for people," adds Hobbs Mayor Jonathan Sena.
Shale companies, whose assets are concentrated in the US, will benefit the most from the market conditions. But for giants like ExxonMobil or Chevron, the situation is tougher, as their assets in the Persian Gulf have come under attack due to the blockade of the Strait of Hormuz.
Experts warn that if the strait is blocked for a long time, the price could soar even higher, leading the global economy to severe consequences.