The U.S. may continue to “obliterate” Iran militarily over the coming weeks—as President Trump repeatedly threatens—but Iran’s likelihood of maintaining some control over energy flows through the Strait of Hormuz choke point increases daily and could ultimately equate to a “major victory” in the war.
That potential win for Iran, and for its allies Russia and China, would result in higher oil and gas prices—and greater inflation—longer term, leaving the world notably worse off than before the U.S. and Israel initiated the war, energy and geopolitical experts told Fortune.
