Impact of the 2026 U.S.-Israel war with Iran on global commodity market - statistics and facts
°Õ³ó±ðÌýU.S. and Israel launched joint strikes on Iran on February 28, 2026, prompting Iran to engage in retaliatory strikes. The impact of these events has reverberated worldwide, with global markets showing increased trepidation of further escalation. Essential infrastructure across the Middle East, such as oil plants, desalination plants, and airports, has already been struck. The Strait of Hormuz, which handles a large share of global commodity flows, including a third of global crude oil shipments and 20 percent of LNG shipments, has effectively seen a freeze in its transit trade volume as of early March. While an initial ceasefire had been agreed to on April 8, the parties to the war, including the broker state Pakistan, failed to come to an agreement concerning the Hormuz strait.
