← March 15, 2026 briefingEconomy
Gulf Crisis Delivers $63bn Windfall to US Oil Producers
The closure of the Strait of Hormuz has sent crude prices surging, and American oil companies stand to pocket an estimated $63 billion in extra revenue if prices average $100 a barrel through 2026. Gas at one Los Angeles Chevron station has already hit $8 a gallon, nearly $3 above the city average.
