The war in Iran has not only affected the geopolitical balance in the Middle East, but also the entire global economy. While millions of households in Europe, Asia and America are seeing their cost of living skyrocket due to rising energy and fuel prices, certain corporate giants are recording massive profits from the new crisis. Market turmoil, energy price increases, uncertainty in financial transactions and rising defense spending have created an environment of enormous profitability for specific sectors.
Iran’s closure of the Strait of Hormuz created massive pressure on global energy markets, as approximately one-fifth of the world’s oil and natural gas passes through this particular passage. This disruption led to major fluctuations in oil and natural gas prices, creating enormous opportunities for major oil companies. The biggest beneficiaries appear to be European energy giants, which have strong trading divisions and can leverage market volatility to increase their revenues.
War in Iran: explosive profits for oil companies
BP announced that its profits more than doubled, reaching $3.2 billion in the first quarter of the year, attributing the explosive rise to the “exceptional” performance of its trading division. Similarly, Shell exceeded analysts’ estimates, posting profits of $6.92 billion. TotalEnergies also showed significant growth, announcing profits of $5.4 billion for the first quarter of 2026, up nearly a third from the previous period. The energy crisis has strengthened not only oil companies but the entire energy trading market, as extreme volatility has allowed traders and investment divisions to reap enormous amounts within just a few weeks.
War in Iran: Wall Street banks hit profit records
Major winners of the crisis proved to be Wall Street banking giants. Increased market uncertainty caused massive trading volumes, as investors abandoned riskier assets and sought safer investments. JPMorgan Chase announced revenues of $11.6 billion from its trading arm alone in the first quarter of 2026, recording one of the largest quarterly profits in its history.
Goldman Sachs, Morgan Stanley, Citigroup, Bank of America and Wells Fargo also recorded significant profits. Combined, the six largest American banks announced profits of $47.7 billion within the first three months of 2026. Analysts explain that market volatility due to the war led many investors either to mass selling due to fear or to aggressive buying aimed at exploiting the crisis.
War in Iran: defense, weapons and military equipment
One of the most obvious beneficiaries of any military conflict is the defense sector. The new Middle East crisis has dramatically increased demand for missile systems, anti-drone technologies and military equipment. BAE Systems announced it expects strong sales and profit growth, citing rising “security threats” globally.
Meanwhile, Lockheed Martin, Boeing and Northrop Grumman announced record order backlogs at the end of the first quarter. The crisis has even benefited renewable energy sources, as many governments and businesses seek to reduce dependence on oil and natural gas.
NextEra Energy recorded a 17% stock rise since the beginning of the year, while Danish companies Vestas and Ørsted showed significant profit increases. At the same time, rising gasoline prices have boosted demand for electric vehicles, mainly in the Chinese market, where electric vehicle manufacturers are capitalizing on the new energy reality.
