{"id":14695,"date":"2026-03-02T13:26:46","date_gmt":"2026-03-02T13:26:46","guid":{"rendered":"https:\/\/www.expanamarkets.com\/?post_type=insight&#038;p=14695"},"modified":"2026-03-02T15:42:36","modified_gmt":"2026-03-02T15:42:36","slug":"middle-east-conflict-crude-oil-market-shock-triggered","status":"publish","type":"insight","link":"https:\/\/www.expanamarkets.com\/insights\/article\/middle-east-conflict-crude-oil-market-shock-triggered\/","title":{"rendered":"Middle East Conflict: Crude Oil Market Shock Triggered"},"content":{"rendered":"\n<!-- .module.article-rich-text: start -->\n<div id=\"\" class=\"module article-rich-text pt-32 md:pt-48 xl:pt-56 pb-40 md:pb-64 xl:pb-80 hidden show-small:block show-medium:block show-large:block [p_+_p]:mb-24\">\n\t<p><span data-contrast=\"auto\">Months of diplomacy collapsed into armed conflict Saturday morning when Israel and the\u00a0US\u00a0launched bombing missions against key sites in Tehran and several other Iranian cities. The strikes resulted in the death of Iran&#8217;s Supreme Leader, Ali Khamenei, and prompted retaliatory attacks by Iran on Israeli and\u00a0US\u00a0assets across multiple Middle Eastern states, including Qatar, the UAE and Bahrain.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\"><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.expanamarkets.com\/markets\/energy-transport\/brent-crude-oil-prices\/\">Crude oil markets<\/a><\/span> opened sharply higher at the start of the week as traders moved into long positions following the outbreak of hostilities. Market participants expressed serious concerns about crude oil and clean product flows through the Strait of Hormuz, now effectively closed to commercial traffic.\u00a0Roughly 20%\u00a0of global crude oil consumption transits the Strait, highlighting its strategic significance.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Tankers are rerouting around the Cape of Good Hope or\u00a0halting\u00a0transit,\u00a0awaiting further instruction, as major shipping firms\u00a0suspend\u00a0travel through the Strait of Hormuz. Sources expect a marked slowdown in crude oil movement and sustained upward pressure on prices due to perceived supply shortages.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Market participants are closely watching for\u00a0possible strikes\u00a0on energy infrastructure, which could deepen the crisis. On Monday morning, traders reported a fire at a Saudi Arabian oil refinery, with two drones spotted nearby. While the fire is\u00a0reportedly under\u00a0control, sources warn this may be an early sign that refineries,\u00a0ports\u00a0and processing facilities could become target zones.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n\t<\/div>\n\t<!-- .module.article-rich-text: end -->","protected":false},"excerpt":{"rendered":"","protected":false},"author":79,"featured_media":11510,"template":"","tags":[119],"insight-theme":[166],"insight_topic":[316,317],"news_topic":[],"class_list":["post-14695","insight","type-insight","status-publish","has-post-thumbnail","hentry","tag-energy-and-transport","insight-theme-weekly-market-insights","insight_topic-energy-and-transport","insight_topic-middle-east-conflict"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.6 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Middle East Conflict: Crude Oil Market Shock Triggered<\/title>\n<meta name=\"description\" content=\"Crude oil markets opened sharply higher at the start of the week following the escalation of the conflict in the Middle East. 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