The prolonged U.S.-Israel-Iran conflict is driving a structural reset in how countries price risk, secure supply and allocate capital across the energy system.

The ongoing U.S.-Israel-Iran war has entered a prolonged phase with no clear resolution, as diplomatic efforts between Washington and Tehran continue to stall. Recent developments indicate negotiations remain deadlocked, even as pressure mounts for a broader agreement to de-escalate tensions. With roughly 20% of global oil and gas trade exposed to disruption and Gulf producers facing constrained output, the conflict is no longer a short-term geopolitical shock – it is evolving into a structural force that will shape energy policy, investment decisions and market behavior for decades to come.

A report by S&P Global Energy, “Africa After the Iran War: Building Resilience for the Next 20 Years,” highlights the complexity of the crisis and how it is expected to reshape global energy policy. With supply disrupted and crude prices surging, the report suggests there is no quick solution, with markets requiring time to recover. Over the long term, energy security is expected to take precedence over affordability, as consumers diversify supply chains and pursue greater flexibility.

Volatility Continues to Impact Markets

The Gulf conflict is having significant........

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