Having reached the 90-day mark on May 28, the US-Israel-Iran war and the energy shock it unleashed have already produced a number of global losers as well as some clear beneficiaries. Among those benefitting is Libya, which is capitalizing on surging oil prices as its battered energy sector shows renewed momentum.

Power brokers in the fragmented North African state are sounding bullish. Belgacem Haftar, son of eastern Libyan strongman Khalifa Haftar, recently vowed to make up for decades of “lost years” under longtime ruler Moammar Gadhafi.

His remarks were intended to highlight development efforts under his supervision as head of the Libyan Development and Reconstruction Fund in eastern Libya after years of civil war and state collapse, efforts that should theoretically benefit from higher oil revenues. More broadly, however, the younger Haftar’s comments came amid signs that the North African exporter could finally convert its vast hydrocarbon wealth into something resembling national recovery.

Whether it can do so remains uncertain, but several trends are aligning in Libya’s favor.