The Iran war has driven crude oil prices up 60% this year to $100 a barrel. That has boosted energy companies, with the average S&P 500 stock up 28%.

The global energy market’s turbulence this year shows how important oil is to the economy. Three excellent oil equities to buy and hold for decades.

The two sides have mainly maintained a ceasefire since early April, but US and Iranian shipping blockades have reduced daily transits through the Strait of Hormuz to almost zero. The supply shock has cut petroleum, fuel, natural gas, and fertilizer supplies, threatening inflation.

The ninth week of the US-Israel assault on Iran has raised energy costs and caused shortages of liquefied petroleum gas in India. International Energy Agency: Conflict causes largest supply shock ever.