Will the US benefit from the oil crisis sparked by the war on Iran?

"Shipping through the Strait of Hormuz between Iran and Oman, which carries one-fifth of oil consumed globally and about 20 percent of the world's liquefied natural gas (LNG), has come to a near halt after vessels in the area were hit by Iran earlier in the week in retaliation for US and Israeli strikes, which began on Saturday."

"Iran's Islamic Revolutionary Guard Corps (IRGC) declared on Monday that the strait was closed and that any vessel attempting to pass through the waterway would be set ablaze. The US-flagged product tanker, Stena Imperative, was damaged by aerial impacts while berthed in the Middle East Gulf, the vessel's owner, Stena Bulk, and its US manager, Crowley, said in a statement on Monday."

"In all, at least five tankers have been damaged, two personnel killed and about 150 ships stranded around the strait. The disruption and fears of prolonged closure have caused oil and European natural gas prices to jump, with Brent crude futures up as much as 13 percent as the conflict triggers multiple oil and gas production shutdowns in the Middle East."

Shipping through the Strait of Hormuz, which carries one-fifth of global oil consumption and 20 percent of world LNG, has nearly halted following Iranian attacks on vessels in retaliation for US and Israeli strikes. Iran's Islamic Revolutionary Guard Corps declared the strait closed and threatened to set ablaze any passing vessels. At least five tankers have been damaged, two personnel killed, and approximately 150 ships stranded. The disruption has caused Brent crude futures to rise 13 percent and European natural gas prices to jump significantly. About 10 percent of global container ships face delays, with cargo accumulating at ports. These supply disruptions create opportunities for Western exporters to fill market gaps as energy prices soar.

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