Oil execs warn of long-term damage from Iran war as US downplays crisis - Reuters

Oil executives are warning that a potential conflict with Iran could cause long-term damage to global energy markets, even as the Trump administration has downplayed the severity of the crisis. The industry's concern centers on potential disruption to crude supplies from the Middle East, a region critical to world oil production and prices. The disconnect between the oil sector's caution and the White House's more optimistic assessment reflects broader disagreement over how seriously to treat the geopolitical risk. Oil markets are already sensitive to Iran-related tensions given the country's significant role in global energy supplies and history of regional conflict. The executives' warnings suggest the financial and supply-chain consequences of escalation could far outweigh official optimism about managing any fallout.