Geopolitical shocks can quickly shift the risk and reward profile of stocks tied, directly or indirectly, to global energy flows. The renewed tension between the US and Iran, along with higher perceived risk around the Strait of Hormuz, is a fresh reminder that headlines can ripple through oil, energy, transport and defense related markets. This article highlights 3 stocks from our Global Oil and Energy Stocks screener that are exposed to these developments. You will see how each company might be affected, what the key angles are to watch, and where the current setup could offer opportunity or call for extra caution.

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Golar LNG (GLNG)

Overview: Golar LNG designs, converts, owns and operates floating liquefied natural gas vessels that turn stranded or hard to reach gas resources into exportable LNG, and also handles storage, regasification and transportation services for global customers.

Operations: Golar LNG generates the vast majority of its revenue, about US$442.9 million, from its first FLNG unit, with a smaller contribution of around US$25.7 million from corporate and other activities.

Market Cap: US$5.2b

For investors watching how renewed US Iran tension and potential disruptions in the Strait of Hormuz could reshape global gas flows, Golar LNG sits directly in the spotlight as a pure play on floating LNG infrastructure. Long term FLNG contracts and a large contracted EBITDA backlog offer visibility, while recent record LNG production, strong Q1 2026 earnings and a cash balance above US$1b highlight its financial capacity to add further units. At the same time, high reliance on external funding, exposure to a few large counterparties and sensitivity to LNG demand and regulation keep risk firmly on the table. The key issue is how these strengths and pressure points interact when supply security becomes especially important.

Golar LNG’s long term FLNG contracts and US$1b plus cash pile hint at a story investors may not be fully pricing in yet, especially when supply security is in focus. The 3 key rewards and 2 important warning signs (1 is major!) could be the missing twist.

Gulf Keystone Petroleum (LSE:GKP)

Overview: Gulf Keystone Petroleum is an oil and gas producer focused on the Shaikan Field in the Kurdistan Region of Iraq, where it explores, develops and operates wells across a large onshore block northwest of Erbil, supported by in house technical and operational services.

Operations: The company generates essentially all of its US$193.1 million in revenue from exploration and production of oil and gas in the Shaikan Field.

Market Cap: £386.6 million

Gulf Keystone sits at the intersection of heightened Middle East tension and tight global oil supply. It has a single large field that can respond quickly when export routes and security conditions allow. Recent commentary points to production that can be restarted rapidly, new water handling facilities aimed at lifting volumes, low operating costs and ongoing dividends, but also repeated shut ins, payment uncertainty and operational concentration in Kurdistan. For investors watching how renewed US Iran escalation and risks around the Strait of Hormuz could affect regional flows and pricing, the real question is how this mix of high quality reserves, geopolitical exposure and funding dependence may reshape the balance between upside and downside if security or export terms shift again.

Gulf Keystone’s mix of restart ready production, low costs and Kurdistan risk often looks hard to square. See how the 3 key rewards and 3 important warning signs could tilt the story if exports or payments change again.

Cheniere Energy (LNG)

Overview: Cheniere Energy is a US based LNG infrastructure company that liquefies natural gas at its Sabine Pass and Corpus Christi terminals, then loads it onto tankers and sells the LNG and gas to global buyers under long term contracts and marketing arrangements.

Operations: Cheniere generates around US$20.8b in revenue from its integrated oil and gas activities, centered on LNG export, pipelines and related marketing.

Market Cap: US$49.6b

If you are looking for a way to focus on energy security rather than just short term price moves, Cheniere stands out as a US exporter whose Gulf Coast terminals sit outside the current Strait of Hormuz disruptions while Middle East LNG volumes and infrastructure face pressure. Long dated, take or pay contracts help underpin cash flows, and recent record cargo exports and new Bechtel contracts to expand Sabine Pass show how the asset base is still being built out, even as the stock carries a high P/E, a heavy debt load and thinner profit margins. The key question is how that mix of contracted resilience, geopolitical factors and balance sheet risk compares once you look under the hood.

Cheniere’s mix of long dated LNG contracts, Gulf Coast export scale and a high P/E hints at a story investors may not be fully weighing yet. The 2 key rewards and 3 important warning signs could reveal what the current setup is quietly signaling

The 3 stocks in this article are just a starting point, and the full Global Oil and Energy Stocks screener surfaces 25 more companies with equally compelling risk reward narratives around production, transport and energy security. Use Simply Wall St to identify and analyze the specific catalysts, balance sheet profiles and contract structures that matter most to you so you can focus on your highest conviction ideas in this theme.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.