Here Are The Biggest Winners & Losers From The Iran War

In a note to clients on Thursday, Jefferies' U.S. Consumer Team outlined which companies are likely to be hit hardest as an energy shock ripples through the economy following nearly three weeks of conflict in the Middle East.

Geopolitical risk premia in Brent crude futures surged earlier this morning, with prices topping nearly $120/bbl as the conflict marked a troubling new escalation, with Israel and Iran striking upstream energy infrastructure, suggesting prolonged LNG disruptions that could last months, if not years. By 0930 ET, Brent futures had fallen to around $112/bbl, while WTI futures remained near $97 as traders priced in potential U.S. export restrictions on crude and refined products by the Trump administration.