Markets

The global energy market faced unprecedented volatility this week as the conflict between the US-Israeli alliance and Iran evolved from a shipping disruption into a direct assault on critical energy infrastructure.

The global oil market enters the final full week of Mar. 2026 caught in a violent tug-of-war between catastrophic supply disruptions and unprecedented government interventions.

The effective closure of the Strait of Hormuz since Feb. 28, 2026, has triggered the largest oil supply disruption in history, far surpassing the 1956 Suez Crisis.

The blockade of the Strait of Hormuz has caused a coordinated global response to the catastrophic energy supply disruption.

As the conflict in the Middle East continues to paralyze the Strait of Hormuz, the US federal government has moved to

As the conflict in the Middle East cuts traditional supply lines, European refiners are capitalizing on record-high margins and a shift in market structure.

The regional conflict has escalated into a systematic campaign against Middle Eastern refining and gas infrastructure, with Iranian drone and missile strikes targeting critical facilities from the Persian Gulf to the Red Sea.

While the war has forced significant production suspensions in Qatar, Iraq, and the UAE, major players like TotalEnergies are leveraging higher global crude prices and non-regional growth to maintain cash flow stability.

With over 7 MM b/d of crude and 12 MM boe/d of total energy offline in the Middle East, the global market, particularly in Asia-Pacific, faces a historic deficit of

The International Energy Agency (IEA) has officially characterized the current Middle East conflict as the