US–Israel–Iran War 2026: Oil Prices Surge, Strait of Hormuz Crisis & Pakistan’s Official Statement
US–Israel–Iran War 2026: Oil Shock, Strait of Hormuz Crisis & Pakistan’s Strategic Position The escalating military confrontation between the United States, Israel, and Iran has triggered a multi-dimensional geopolitical shockwave, reverberating across energy markets, regional security architecture, and global diplomatic corridors. Following coordinated US–Israel airstrikes and Iran’s retaliatory missile operations, volatility has intensified particularly in global oil markets, where risk premiums are expanding at an accelerated pace. For energy-dependent economies, including Pakistan, the implications are material and immediate. Oil Markets React: Brent Crude Volatility Surges Global benchmark Brent crude recorded a double-digit surge at the opening of the week, briefly spiking 13% before stabilizing near the $77 per barrel threshold. The market is now pricing in heightened geopolitical risk, particularly centered on the Strait of Hormuz , the world’s most critical oil transi...
