Does Anyone Profit From The US-Iran War?

While households and businesses around the world feel the financial strain of the Iran war, some industries are making billions from the turmoil. Oil and gas companies are among the biggest winners. The disruption to the Strait of Hormuz has sent energy markets swinging, benefiting firms such as BP, Shell and Total Energies, whose trading operations can profit from volatile prices. Big banks are also cashing in. Investors rushing to move money between riskier and safer assets have driven trading volumes higher. JPMorgan alone generated a record $11.6 billion in trading revenue during the first quarter of 2026. Defense companies are benefiting from governments rushing to replace weapons stocks and strengthen military capabilities. BAE Systems, Lockheed Martin, and Northrop Grumman all have huge order backlogs. Rising fuel prices have also increased interest in solar panels, heat pumps, and electric vehicles as countries look to reduce their dependence on fossil fuels.