Global stock markets fall and oil prices surge above $100 amid US-Israel-Iran conflict escalation
Here's what it means for you.
Energy costs and market volatility are set to ripple through every global sector as the US-Israel-Iran war disrupts 20% of the world’s oil supply.
What happened
On March 13, 2026, global equities dropped up to 1.7% and Brent crude oil spiked to $103.14 per barrel as the US-Israel-Iran conflict escalated, threatening key shipping lanes.
The Context
- Strait of Hormuz in play: Iran’s threats and attacks have disrupted a chokepoint that handles one-fifth of global oil flows—over 12 million barrels per day.
- Leadership shift, no pause: After Supreme Leader Ali Khamenei’s death, his son Mojtaba took power and doubled down on military resistance, fueling further instability.
- Markets react globally: Major indices from Wall Street to Tokyo and Dubai slid between 0.7% and 1.7%, while the International Energy Agency released 400 million barrels from reserves to calm supply fears.
The Number
— the Brent crude settlement price, a level not seen since 2022, signaling higher costs for transport, manufacturing, and consumer goods worldwide.
Takeaway
Expect sustained volatility in equities and commodities as the conflict persists and central banks rethink rate cut timelines.
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