Naftali Bennett

"This war didn't start ten days ago. It started forty seven years ago... So it's taking time. Forty seven years to dismantle takes a few more days or weeks as much as is necessary." Directly attacking Iran—a major OPEC producer—removes the proxy buffer and places Iranian oil infrastructure and the Strait of Hormuz at direct risk of retaliation or collateral damage. This bakes a persistent geopolitical risk premium into global energy markets. LONG. Western energy equities and oil producers benefit from elevated crude prices driven by persistent Middle East supply threats and global energy market disruptions. OPEC+ possesses significant spare capacity that could be released to offset Iranian supply disruptions, capping the upside for global oil prices.

"Both The United States and the Israeli Air Force have worked over the past ten days to sort of clip off those capabilities, but we need to ensure that it's a permanent change... As long as it's necessary." A prolonged, direct air campaign against fortified Iranian nuclear and ballistic missile sites requires continuous replenishment of precision-guided munitions, interceptors, and aerospace support. US defense contractors are the primary suppliers for both US and Israeli forces. LONG. Sustained military operations and the strategic shift to targeting Iran directly ensure elevated defense spending and multi-year order backlogs for major aerospace and defense primes. A sudden diplomatic breakthrough or a hardline US policy shift forcing an early end to the conflict could reduce immediate munitions demand.

"Both The United States and the Israeli Air Force have worked over the past ten days to sort of clip off those capabilities, but we need to ensure that it's a permanent change... As long as it's necessary." A prolonged, direct air campaign against fortified Iranian nuclear and ballistic missile sites requires continuous replenishment of precision-guided munitions, interceptors, and aerospace support. US defense contractors are the primary suppliers for both US and Israeli forces. LONG. Sustained military operations and the strategic shift to targeting Iran directly ensure elevated defense spending and multi-year order backlogs for major aerospace and defense primes. A sudden diplomatic breakthrough or a hardline US policy shift forcing an early end to the conflict could reduce immediate munitions demand.

"This war didn't start ten days ago. It started forty seven years ago... So it's taking time. Forty seven years to dismantle takes a few more days or weeks as much as is necessary." Directly attacking Iran—a major OPEC producer—removes the proxy buffer and places Iranian oil infrastructure and the Strait of Hormuz at direct risk of retaliation or collateral damage. This bakes a persistent geopolitical risk premium into global energy markets. LONG. Western energy equities and oil producers benefit from elevated crude prices driven by persistent Middle East supply threats and global energy market disruptions. OPEC+ possesses significant spare capacity that could be released to offset Iranian supply disruptions, capping the upside for global oil prices.

"Both The United States and the Israeli Air Force have worked over the past ten days to sort of clip off those capabilities, but we need to ensure that it's a permanent change... As long as it's necessary." A prolonged, direct air campaign against fortified Iranian nuclear and ballistic missile sites requires continuous replenishment of precision-guided munitions, interceptors, and aerospace support. US defense contractors are the primary suppliers for both US and Israeli forces. LONG. Sustained military operations and the strategic shift to targeting Iran directly ensure elevated defense spending and multi-year order backlogs for major aerospace and defense primes. A sudden diplomatic breakthrough or a hardline US policy shift forcing an early end to the conflict could reduce immediate munitions demand.

"This war didn't start ten days ago. It started forty seven years ago... So it's taking time. Forty seven years to dismantle takes a few more days or weeks as much as is necessary." Directly attacking Iran—a major OPEC producer—removes the proxy buffer and places Iranian oil infrastructure and the Strait of Hormuz at direct risk of retaliation or collateral damage. This bakes a persistent geopolitical risk premium into global energy markets. LONG. Western energy equities and oil producers benefit from elevated crude prices driven by persistent Middle East supply threats and global energy market disruptions. OPEC+ possesses significant spare capacity that could be released to offset Iranian supply disruptions, capping the upside for global oil prices.