Hormuz crisis: Who’s cashing in while oil prices spike
Edited By WION Video Desk
Published: Jul 15, 2026, 20:27 IST | Updated: Jul 15, 2026, 20:27 IST
The Strait of Hormuz is tense, and the oil market is feeling it. Prices spiked overnight, but not everyone is losing. Big refiners are riding a rare margin windfall — crude is expensive, but product spreads are even better. Saudi Arabia has an ace: its pipeline advantage means it can still move oil even if the Strait shuts. That’s paying off big. Meanwhile, the UAE is feeling the heat as Gulf rivals take different routes and different risks. Profit is shifting fast.
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