Top executives on Monday warned of long-term damage the Iran war could inflict on global commodities markets.
Speaking at Semafor World Economy, the TotalEnergies CEO warned disruptions could become “a question of years” if the conflict escalates.
The head of energy tech company Baker Hughes said repairs to a damaged Qatari LNG facility could take three to five years.
And Lazard’s CEO said the macro impacts are “not fully manifested yet,” with jet fuel, aluminum, and helium markets set to face “much more pressure.”
US Energy Secretary Chris Wright, though, said at the event that higher gas prices are a “short-term” shock that will subside in the next few weeks, but “the longer the conflict goes, the longer the rebound is.”