Energy and Midstream Implications From Attacks on Iran

Iran and the Strait of Hormuz in Context Summary U.S. and Israeli strikes against Iran over the weekend have pushed oil prices to new relative highs, and the European benchmark for liquefied natural gas (LNG) is also spiking. While Iran is a sizable oil producer and exporter, the greater concern is the Strait of Hormuz, which acts as a major conduit of oil, LNG, refined products, and liquefied petroleum gases (propane and butane). This note discusses the implications for energy markets and North American en ...