The Gulf's Hidden Toll: How the Iran War is Shaping the Future of Oil The world's attention has been focused on the unfolding drama of the Iran war, but a more subtle and significant story has been playing out in the shadows.
The closure of the Strait of Hormuz and ongoing conflict have sent oil prices soaring, benefiting US energy companies at the expense of their investments in the Gulf region.
Brent crude has risen 22 percent since February 28, with ExxonMobil and Chevron raking in a combined $26. 6 billion in second quarter earnings.