--- title: "Crude soars, stocks drop after US strikes on Iran" description: "Oil prices surged nearly 14% and stocks fell in Asia following US-Israeli strikes on Iran, which killed key officials and raised geopolitical tensions. The Strait of Hormuz, a crucial oil passage, fac" type: "news" locale: "en" url: "https://longbridge.com/en/news/277393383.md" published_at: "2026-03-02T02:12:48.000Z" --- # Crude soars, stocks drop after US strikes on Iran > Oil prices surged nearly 14% and stocks fell in Asia following US-Israeli strikes on Iran, which killed key officials and raised geopolitical tensions. The Strait of Hormuz, a crucial oil passage, faced disruptions, leading to fears of supply shortages. While energy firms saw gains, equity markets declined. Analysts warned that sustained high oil prices could impact inflation and economic growth, with potential prices exceeding $100 per barrel if the situation escalates. The US president indicated a prolonged conflict, further complicating the economic outlook. Oil prices soared and stocks fell in Asia on Monday after US-Israeli strikes on Iran sent investors fleeing the prospect of an extended conflict in the crude-rich Middle East. Brent briefly spiked almost 14 percent and West Texas Intermediate nearly 12 percent at the start of business after the attack on the Islamic Republic, which killed supreme leader Ayatollah Ali Khamenei and other senior officials. The bombings have also seen the vital Strait of Hormuz -- through which around 20 percent of global seaborne oil passes -- effectively shut and several ships attacked, fanning supply fears. Equity markets across Asia sank, with Tokyo, Hong Kong, Singapore, Wellington and Taipei all deep in the red. US futures were down more than one percent. However, energy firms rallied, with Australia's Woodside Energy jumping more than five percent and Santos climbing nine percent, while PetroChina added almost four percent in Hong Kong. Inpex in Japan was up more than 10 percent. Gold -- a key go-to safe haven in times of turmoil -- climbed two percent. While the strikes have ramped up geopolitical worries, traders wound down their initial bets, with crude sitting around five percent higher and stock markets paring losses. Brent, the international benchmark for crude, had already rallied last week on growing concerns Trump would order an attack as talks aimed at curtailing Iran's nuclear programme stuttered. "If higher oil prices persist, it raises the risk of stickier headline inflation and can slow the pace at which inflation prints improve," wrote Saxo Markets' Charu Chanana. "That does not automatically mean policy tightening, but it can make the Fed more cautious about cutting quickly, because energy-driven inflation can spill into expectations and broader pricing behaviour over time." The US president has called on Iranians to rise up against their government and said the war could last "four weeks". Iran's retaliatory missile and drone campaign in the Gulf killed four people and wounded dozens more, the UAE foreign ministry said. While Iran has not officially closed the Strait of Hormuz, its Revolutionary Guards have warned against transiting the waterway. \- Trump's 'Achilles heel' - On Sunday, at least two ships were struck, one off Oman's coast and another off the UAE's, British maritime security agency UKMTO said. Iranian state television said an oil tanker was struck and was sinking after trying to "illegally" pass through the strait. In such a situation, insurance costs become prohibitive, said Amena Bakr, head of Middle East and OPEC+ research at analysts Kpler, predicting that the price could hit $90. The main shipping companies have already confirmed that they are suspending the passage of their fleets along the route. "While some alternate infrastructure could be used to bypass the Strait of Hormuz, the net impact from its closure would be a loss of eight to 10 million bpd (barrels per day) of crude oil supply," said Jorge Leon, an analyst with Rystad Energy, in a note on Saturday. In theory, oil-importing countries have reserves, with OECD members required to maintain 90 days' worth of stocks, but prices above $100 cannot be ruled out. If the blockade of the Strait of Hormuz continues, "no matter how much spare capacity (in the strategic reserves) is not going to fill that gap. That gap is just too big", said Bakr. Another analyst at Kpler, Michelle Brouhard, described high oil prices as "the Achilles heel of Trump". In her view, Iran is likely to look to keep crude prices high to force Trump to back down, as he promised his electorate low prices, at a time when the United States is already gearing up for mid-term elections at the end of this year. Gas prices also soared Monday -- dealing another blow to the world economy -- as Qatar is a key exporter of liquefied natural gas, heightening inflationary risks. The last time crude prices climbed above $100 was at the start of the war in Ukraine. Gas also soared, which played a major role in a prolonged period of rising prices. Rising energy prices, increased shipping costs and loss of revenue for air transport could have "a harmful effect on growth", said economist Eric Dor, from the IESEG School of Management in Paris. "If it's a matter of three days, it's not serious. But if it's over a longer period, then it will have an additional recessionary effect," he told AFP. \- Key figures at around 0200 GMT - West Texas Intermediate: UP 4.2 percent at $69.84 per barrel Brent North Sea Crude: UP 4.7 percent at $76.32 per barrel Tokyo - Nikkei 225: DOWN 1.4 percent at 58,001.38 Hong Kong - Hang Seng Index: DOWN 1.9 percent at 26,130.70 Shanghai - Composite: UP 0.3 percent at 4,173.75 Euro/dollar: DOWN at $1.1790 from $1.1823 on Friday Pound/dollar: DOWN at $1.3447 from $1.3486 Dollar/yen: UP at 156.26 yen from 156.03 yen Euro/pound: DOWN at 87.65 pence from 87.67 pence New York - Dow: DOWN 1.1 percent at 48,977.92 (close) London - FTSE 100: UP 0.6 percent at 10,910.55 (close) bur-stu-dan/lb ### Related Stocks - [00883.HK - CNOOC](https://longbridge.com/en/quote/00883.HK.md) - [DBC.US - Invesco DB Commodity Index Tracking Fund](https://longbridge.com/en/quote/DBC.US.md) - [IEZ.US - iShares US Oil Equip & Svcs](https://longbridge.com/en/quote/IEZ.US.md) - [IXC.US - ISHRS S&P Glb Engy](https://longbridge.com/en/quote/IXC.US.md) - [00386.HK - SINOPEC CORP](https://longbridge.com/en/quote/00386.HK.md) - [USO.US - United States Oil Fund LP](https://longbridge.com/en/quote/USO.US.md) - [159309.CN - China Universal CSI Oil & Gas Resources ETF](https://longbridge.com/en/quote/159309.CN.md) - [CWPE.US - CW Petroleum Corp](https://longbridge.com/en/quote/CWPE.US.md) - [EMLP.US - First Trust North American Energy Infra Fd](https://longbridge.com/en/quote/EMLP.US.md) - [ERX.US - Direxion Daily Energy Bull 2X](https://longbridge.com/en/quote/ERX.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 在美國和以色列對伊朗進行打擊後，以色列關閉了天然氣田 | 倫敦，2 月 28 日 - 以色列能源部已下令暫時關閉該國部分天然氣儲備，因為以色列和美國於週六對伊朗發動了襲擊。三位消息人士告訴路透社，位於以色列海岸的利維坦氣田，由雪佛龍運營，已被關閉。Energean（ENOG.L）表示，其服務於多個 | [Link](https://longbridge.com/en/news/277305531.md) | | 全球市場：油價上漲，中東動盪導致股市下跌 | 由於中東軍事衝突升級，油價飆升，布倫特原油上漲 4.5%，達到每桶 76.07 美元。標準普爾 500 指數和歐盟股票期貨下滑，而美元對歐元走強。霍爾木茲海峽的局勢依然緊張，這一關鍵的石油運輸通道面臨重大供應中斷的風險。OPEC+ 宣佈適度 | [Link](https://longbridge.com/en/news/277390854.md) | | ROI-伊朗戰爭使石油市場陷入數十年來最大的危機：Bousso | 美國和以色列與伊朗之間持續的衝突正在對全球石油市場造成重大幹擾，可能導致油價大幅上漲。局勢仍然動盪不安，因為軍事打擊尚未確認對石油基礎設施造成損害，但霍爾木茲海峽的運輸中斷風險依然很大。石油巨頭正在暫停發貨，油輪運費急劇上漲。儘管目前全球石 | [Link](https://longbridge.com/en/news/277316010.md) | | 由於中東地區的緊張局勢，油價將會上漲 | 中油公司和台塑石化公司宣佈，由於中東緊張局勢和美國冬季風暴，汽油和柴油的價格分別上漲 NT$0.2 和 NT$0.4 每升。無鉛汽油的新價格將為每升 NT$27.4、NT$28.9 和 NT$30.9。此外，中油公司本月將天然氣價格平均提高 | [Link](https://longbridge.com/en/news/277362497.md) | | OPEC+ 在週日的會議上將每日石油產量提高了 206,000 桶 | OPEC+ 決定將石油日產量增加 206,000 桶，這與最初預期的沒有變化相悖。這個決定可能受到最近美國對伊朗的打擊影響。額外的原油生產預計將在四月開始。高盛警告，由於霍爾木茲海峽可能出現的干擾，原油價格可能面臨每桶 18 美元的風險溢價 | [Link](https://longbridge.com/en/news/277372254.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.