As the US-Israel-Iran war wages in West Asia, Brent crude prices are threatening to go through the roof. More than the damage to lives, infrastructure and other facilities, it is the fear of disruption to supply which seems to spook oil markets, as was seen on Monday. In both the first and second gulf wars, crude oil prices had more than doubled as oil supply came under threat. But beside geopolitical tensions, supply cuts by large blocks such as OPEC also seem to cause oil price shocks.

Published on March 10, 2026