Global financial markets have come under pressure as tensions between the United States and Iran intensify, with the conflict now entering its fourth week. The situation has unsettled investors and pushed energy prices higher amid fears of further escalation.
In Asia, Japan’s Nikkei index dropped sharply by 3.5%, while South Korea’s Kospi plunged 6.5%, reflecting concerns over supply disruptions. European markets also declined, though more moderately, with London’s FTSE 100 falling 1.9% and major indices in Germany and France losing around 2%.
At the center of the crisis is the Strait of Hormuz, a vital global shipping route through which roughly 20% of the world’s oil and liquefied natural gas typically passes. Iran has effectively restricted access to the strait following attacks by the United States and Israel in late February, raising alarm over global energy supplies.
Oil prices reacted immediately to the uncertainty. Brent crude rose by more than 1%, trading above $113 per barrel, while US oil prices climbed over 2%. The surge has heightened concerns about rising fuel costs and inflation in several economies.
US President Donald Trump warned that Washington could strike Iranian power infrastructure if the strait is not reopened, signaling a potential escalation. In response, Iranian officials indicated that any such action would trigger retaliatory attacks on critical infrastructure across the region.
The International Energy Agency has cautioned that the ongoing conflict could lead to one of the most severe energy crises in decades. Its chief noted similarities with past global shocks, including the oil crises of the 1970s and the disruptions caused by the war in Ukraine in 2022.
Countries heavily reliant on energy imports through the Strait of Hormuz, such as Japan and South Korea, are particularly vulnerable. The disruption has already intensified volatility in financial markets and raised concerns about supply shortages.
Analysts say markets remain highly sensitive to geopolitical developments, with investors closely watching whether threats from either side will translate into direct attacks on infrastructure. Any further escalation could significantly deepen the economic impact worldwide.
In the United Kingdom, the government is monitoring the situation closely. Prime Minister Keir Starmer has discussed the crisis with US leadership, emphasizing the need to restore safe passage through the strait. An emergency meeting is expected to assess energy security and potential effects on the cost of living.
Meanwhile, gold prices have declined despite the geopolitical uncertainty. Typically seen as a safe-haven asset, gold has come under pressure due to rising bond yields and a stronger US dollar, both of which reduce its appeal to investors. Additionally, some investors are selling gold to offset losses in other volatile markets.
Overall, the combination of rising energy prices, market instability, and geopolitical risk is creating a complex and uncertain global economic outlook.
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