The Iran war is roiling commodities far beyond oil

GateUser-9ad11037 · 2026-03-20T12:26:47+00:00

The essay discusses the significant rise in crude oil prices, specifically Brent surpassing $115 a barrel amidst the ongoing third Gulf war, highlighting the impact of geopolitical events on global oil supply.

GateUser-9ad11037

2026-03-20 12:26:47

Abstract generation in progress

SINCE THE third Gulf war began three weeks ago one number has captured the world’s attention: the price of crude. On March 19th Brent, the global benchmark, briefly surpassed $115 a barrel—higher than its average of 2022, the year Russia launched its full-scale invasion of Ukraine. Some 10-15% of global oil supply remains trapped behind the Strait of Hormuz.

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