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Iran has all but blocked shipments through the Strait of Hormuz, which carries roughly a quarter of global seaborne oil trade. Israel's strike on Iran's South Pars gas field has prompted a further wave of Iranian attacks.
Sustained disruption to Hormuz oil and gas flows keeps crude and gas prices elevated, raising energy and diesel costs for feed production and transport.
bloomberg.comPaul BurkhardtApr 1, 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 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
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.
