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Oil settled up nearly 5% as fresh attacks on ships in the Strait of Hormuz pushed the number of vessels struck to at least 14. Shipping through the strait has nearly stopped since the US and Israel began strikes on Iran on February 28.
The IEA recommended a record 400 million barrel stock release to curb prices.
Disrupted Hormuz shipping removes about a fifth of world oil supply, keeping crude and diesel costs elevated. The record IEA stock release partly offsets supply losses, but ongoing attacks support higher energy and freight costs for feed producers.
reuters.comShariq KhanMar 10, 2026After 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 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 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
Oil settled up ~5% as attacks on ships in Hormuz mounted, adding supply-risk premium despite the record IEA stock release plan.
Oil rose nearly 5% on Mar 10 as attacks on ships in Hormuz mounted (at least 14 vessels struck), adding risk premium that carried into diesel despite the IEA stock release plan.
Oil settled up nearly 5% as ships were attacked in Hormuz, adding to crude and diesel gains during the window.
Attacks on ships in Hormuz (14+ vessels struck) on Mar 10 show the escalating supply risk that carried into Mar 12, partly offset by the stock release plan.
Watch the 29-second version · Oil settles up nearly 5% as Hormuz attacks hit 14 ships: what it means for feed costs
