Much of Iran’s military may be ‘decimated,’ but it’s winning the energy war

That potential win for Iran, and for its allies Russia and China, would result in higher oil and gas prices—and greater inflation—longer term, leaving the world notably worse off than before the U.S. and Israel initiated the war, energy and geopolitical experts told Fortune. “Seizing the strait and controlling traffic through it—even if that control is imperfect—is a major victory for a regime that has no other successes to celebrate besides survival,” said Matt Reed, vice president of geopolitical and energy consultancy Foreign Reports. “Iran is confident that it will exert some control, and it will insist on collecting tolls…