J.P. Morgan: The United States may not benefit from this war, but its impact from rising energy prices may be minimal.

date
10/04/2026
Jefferies' Mohit Kumar stated in a report that it is difficult to say whether the United States has gained any benefits from the Middle East wars, but the impact of rising oil and gas prices on the US economy may be minimal. The global economist expressed that from a geopolitical perspective, Russia and China are the winners of this war, and sanctions against Iran may be lifted. Kumar said that the main losers are the Gulf countries, as they will face a more assertive Iran and their economies have already been impacted. Given their dependence on Middle Eastern oil and gas, Asia becomes a loser economically, while Europe becomes a loser geopolitically, "because it is increasingly clear that the world does not care about Europe's opinions."