Iran war disrupts supply routes, drives crude oil above $100 per barrel

Prices for a range of commodities, including crude oil, natural gas, and agricultural products, have risen since the onset of the Iran war, according to data shared by @charliebilello. The conflict has led to disruptions in key supply routes, notably the Strait of Hormuz, exacerbating price pressures across various markets. Crude oil prices have been particularly affected, with Brent crude rising above $100 per barrel, while European natural gas and refined fuels have seen significant gains. Fertilizer and sulfur markets have also been impacted due to the Middle East’s role as a major supply hub. Key Takeaways The rise in crude oil prices appears consistent with heightened geopolitical tensions, suggesting increased market uncertainty. Pricing in the European natural gas market suggests a significant impact from the conflict, with notable increases from pre-war levels. Fertilizer and sulfur prices have surged, indicating supply chain disruptions originating from the Middle East. What to Watch Watch for developments in the Iran conflict and any potential resolution, as these could influence commodity prices. Key figures such as OPEC’s Mohammad Sanusi Barkindo and the IEA’s Fatih Bir...