Who has profited most from the war on Iran?

Nearly four months since the United States and Israel first launched strikes on Iran, sending energy prices soaring and disrupting global trade, the two sides are holding talks in Switzerland with a memorandum of understanding in place establishing a 60-day ceasefire and framework for negotiations on Iran’s nuclear programme, sanctions relief and the future of the Strait of Hormuz. A lasting deal could ease the economic pain felt by businesses and consumers worldwide. But, for some companies, the conflict has proven immensely profitable. Defence contractors, oil and gas producers and investment banks are among the sectors that have seen profits soar as war and uncertainty have upended global markets. So, who exactly has profited the most? Energy firms In terms of hard, cold dollars, no one sector has benefitted more directly from the war than energy. Before the war, about one-fifth of the world’s oil and liquified natural gas (LNG) passed through the Strait of Hormuz. Disruptions to shipping through the narrow waterway sent crude prices soaring and triggered sharp swings in global energy markets. At one point, Brent crude briefly touched $126 a barrel, its highest price in four years. The price has since dropped to pre-war levels of about $72 per barrel. Higher prices translated into a massive cash flow windfall for some oil producers who were also able to benefit from larger price gaps between regional energy markets. …