FT: Iran war leaves US oil and gas dealmaking 'in paralysis'

US oil and gas transactions have largely come to a standstill as energy prices surge amid the Middle East conflict, Report informs, citing The Financial Times (FT).

Negotiations in the sector have slowed or been paused until markets stabilize and commodity prices level off.

"Everything has stopped. I have two long-term trading deals, but right now everything is paralyzed because no one can assess anything," Brian Luke, a partner at law firm Vinson & Elkins, told FT.

A senior London banker in the energy sector said, "I have three or four sales processes ongoing, and we"ve stopped them all. There"s no point in accepting offers because they would vary too widely."

The banker noted that this year"s CERAWeek energy conference, scheduled for March 23–27 in Houston, Texas, "will be quite unusual."