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Iran War Boosts U.S. Oil Spending by $45B YoY; Energy Stocks Up 32% in 2026

GateNews

Commodities Stocks

2026-05-18 00:23:50

According to the Wall Street Journal on May 17, the Iran conflict has driven a historic disruption in oil supplies, widening economic inequality in the U.S. Americans have spent approximately $45 billion more on gasoline and diesel compared to the same period last year, based on analysis of OPIS pricing and federal demand data. Meanwhile, the S&P 500 energy sector has climbed 32% year-to-date, boosting investor portfolios, while first-quarter profits for oil and gas firms reached multi-year highs, according to Evaluate Energy data.

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