Iran war shock reshapes oil, gas and clean-energy markets
Why it matters: The disruption is pushing importers toward coal now and faster spending on renewables, batteries and nuclear power over time.
The war involving the United States, Israel and Iran has redrawn global energy markets even as Washington and Tehran move toward a framework deal. Disrupted oil and gas flows through the Persian Gulf sent prices higher and exposed how vulnerable Asia and Europe remain to imported fuel. In the near term, some countries including Japan and South Korea have turned more to coal. Over a longer horizon, the shock is expected to speed investment in solar, wind, nuclear power and batteries. The conflict also shifted producer alliances: the United Arab Emirates left OPEC+, Saudi Arabia moved closer to Russia, and suppliers in Brazil, Venezuela, Colombia, Argentina and Guyana are expanding capacity.