Shipping Disruption in the Persian Gulf Sends Oil Higher, Raising Immediate Feedstock Risk for Global Petrochemical MarketsResourceWise
Coordinated military strikes by the United States and Israel on Iranian targets in late February have triggered the most significant disruption to global energy markets since the early stages of the Russia–Ukraine conflict. Within days, oil prices rose by approximately 10–13%, pushing Brent crude toward the $80-per-barrel range, as shipping activity in the Persian Gulf slowed and tanker operators, insurers, and refiners reassessed their exposure to escalating regional risk.
