SONAR Sitrep: US industrials, freight unexpected winners in Iran war

Contrary to consensus expectations, the ongoing conflict in Iran isn’t just a geopolitical risk – it is actively widening the U.S. industrial cost advantage. While global competitors in Europe and Asia are grappling with surging gas prices and heavy war-risk premiums, the United States is emerging as a structural winner in heavy manufacturing. The catalyst? The unique mechanics of “associated gas” – natural gas produced as a byproduct of oil drilling. As elevated global crude oil (WTI) prices in...