Petrol Prices Surge to Highest Since Iran War Began

Petrol prices have reached their highest level since the onset of the Iran war, driven by heightened concerns over regional supply disruptions and increased risk premiums in crude markets. The surge is primarily transmitted through supply disruption fears, particularly around Strait of Hormuz oil flows, which handle about 20% of globally traded oil. This has disproportionately impacted Brent crude futures and refined petroleum products, while also boosting energy sector equities and refining margins. Geopolitical risk flows have further weakened the Iranian rial and increased demand for dollar-denominated energy assets as hedges. Traders will closely watch the next OPEC+ meeting and U.S. inventory data for signals on whether supply adjustments will offset tightening geopolitical conditions.

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