It is unclear who will ultimately govern Iran, the fourth-largest oil producer in OPEC, after U.S.-Israel strikes killed Ayatollah Ali Khamenei.

Oil prices have jumped as U.S. and Israeli attacks on Iran and retaliatory strikes against Israel and U.S. military installations around the Gulf ripple through the global energy supply chain.

The price of oil surged Sunday after U.S. and Israeli strikes on Iran, which led to the death of the country's supreme leader.U.S.

As markets monitor potential supply disruptions Energy Aspects' Amrita Sen expects prices to hold at $80 a barrel. Saudi Arabia has contingency plans to move its oil through the East-West pipeline via the Red Sea, as investors focus on the Strait of Hormuz.

Crude prices hit their highest level in a year as the U.S.-Israel war on Iran escalated with Tehran carrying out retaliatory strikes on U.S.-allied Gulf states.

Oil prices rose sharply when market trading began late Sunday over concerns that the supply from Iran and elsewhere in the Middle East would slow or grind to a halt.

Oil prices jumped 13% to cross $80 per barrel for the first time since 2024 as traders began rapidly pricing in major disruption to oil flows through the Middle East.

Oil prices soared over 7% amid escalating Israel–Iran conflict and fears of Strait of Hormuz disruption. Analysts warn of rising inflation risks and pressure on India’s economy.

Expect short-term disruption and uncertainty, analysts say. But unless there's prolonged conflict, markets should settle down relatively quickly.

Brent crude, the global benchmark for oil prices, jumped by 10% to touch more than $82 a barrel on Monday after at least three ships were attacked near the Strait of Hormuz at the weekend. Natural gas prices also surged by as much as 25%.

Aviation stocks experienced a decline on 2 March 2026 as tensions in the Middle East rose. This pushed the prices of crude oil higher and resulted in flight dis