economy
You Know Who Made Money From the War in Iran: Some are Bankers, Others...
How the energy crisis and the blockade of Hormuz filled the coffers of global giants
TL;DR
- The war in Iran has significantly increased the cost of living globally, impacting household and government budgets.
- European oil and gas giants like BP, Shell, and TotalEnergies have seen profits surge due to rising energy prices and the disruption of transport through the Strait of Hormuz.
- The banking sector, particularly J.P. Morgan and the 'big six' US banks, has benefited from increased trading volumes as investors moved capital to safer assets.
- The defense industry is experiencing a boom in orders for missile shields and anti-drone systems due to heightened security concerns.
- The conflict has boosted interest in renewable energy sources as countries seek energy independence, benefiting companies like NextEra Energy, Vestas, Orsted, and Octopus Energy.