Bipartisan Event Sounds Alarm About Long-Term Energy Aftershocks From Iran War

WASHINGTON — An ⚡Energy expert warned during a bipartisan event Thursday that the Iran war could disrupt fuel, shipping and supply chains long after any peace deal is reached.

The bipartisan Abraham Accords Caucus event, led by Republican Texas Rep. Craig Goldman and Democratic Illinois Rep. Brad Schneider, focused on the regional and global consequences of the Strait’s closure, including how the disruption could affect markets for years. Dr. Karen Young, a senior fellow at the Middle East Institute, said the disruption is extending far beyond just crude oil, noting that jet fuel, diesel, industrial chemicals and other refined products are also being strained.

“We are experiencing the largest supply shock to ⚡Energy markets, to oil markets, in history,” Young said during the discussion.

Young warned that if a peace agreement between Iran and the U.S. is reached, pre-war oil flows may not immediately return to normal due to damaged infrastructure, depleted inventories, shipping risks and the lengthy time required to demine the waterway.