Iran War Disrupts Gas Supply, Boosts Coal Use in Major Consumers

Financial outlets frame the Iran war mainly as an energy and market shock, stressing the four‑year‑high oil prices and reduced gas supplies from the Gulf. They report that major gas‑importing countries are turning back to coal and that emerging‑market stocks have lost all their 2026 gains. They expect continued volatility until there is clarity on Hormuz, new LNG export capacity, and how long the conflict will restrict fuel supplies.

• •Oil prices are holding near their highest level in four years because of uncertainty over Hormuz reopening.
• •The Iran war has limited global gas supplies, pushing some top consumers to increase coal use.
• •A new US LNG facility is preparing to ramp up exports to fill part of the supply gap.
• •Emerging‑market stock indexes have erased their gains for 2026 after the Iran war shock.
• •Investors are treating the conflict as a worst‑case energy shock comparable to past supply crises.