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The US-Israeli military assault on Iran has disrupted commercial shipping in the Gulf, pushing up energy prices on financial markets. Roughly 20% of global oil and large volumes of Qatari LNG pass through the Strait of Hormuz.
Britain, Italy, Belgium and Poland are among the European countries most reliant on Hormuz-linked LNG imports.
Hormuz disruption tightens global oil and LNG supply, lifting energy and fertilizer costs for European producers and feed manufacturers. Higher energy prices also raise inflation risk and could delay central bank rate cuts.
streetinsider.comMar 2, 2026After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% over 20.
After 36 past bearish geopolitics events, Euro (USD per EUR) moved a median -1.0% over 5 sessions (22% higher; middle half -1.8% to -0.3%), and -0.7% over 20.
After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Explains the mechanism of Hormuz disruption raising energy prices and Europe's LNG exposure, supporting euro weakness via terms-of-trade and growth risk.
