US Oil Companies Profit Greatly from Iran Conflict

The United States will be among the largest beneficiaries of rising global crude oil prices stemming from the US-Israel war against Iran, according to a Financial Times report citing estimates from investment bank Jefferies on 16 March 2026.

Crude oil prices have surged past $100 per barrel due to the impact of the ongoing conflict in the Middle East. If prices remain elevated this year, American energy companies will receive a revenue increase of $63.4 billion from oil production, according to energy research firm Rystad.

Brent crude, the international benchmark, rose more than 30 per cent last week, at one point reaching over $119 per barrel, as concerns mounted over prolonged disruption to global energy supplies.

US President Donald Trump seized the opportunity to shift focus from efforts to keep energy prices low to portraying high oil prices as positive.

“The United States is the world’s largest oil producer, far above any other nation, so when the price of oil rises, we make a lot of money,” he said in a post on Truth Social.

This sudden shift in stance occurred as the Trump administration faced challenges in presenting a coherent plan to reopen the vital Strait of Hormuz for US vessels.

Iranian authorities claim the Strait of Hormuz is closed to US and Israeli ships, although it has not been physically blocked with permanent barriers.

However, according to The Guardian, more than 1,000 cargo vessels, predominantly oil and gas tankers, have been blocked from transiting the strait.

If the blockade persists until the end of the month, some analysts estimate crude oil prices could surge to $150 or even $200 per barrel, according to The Economist.

The rise in crude oil prices places pressure on the US economy, as petrol and diesel fuel prices, alongside many other goods and services, have increased in the country, according to The Wall Street Journal.